Here's an update of a chart that I've posted from time to time. Originally I had a much shorter time frame; I had to extend the time frame to find the next level of support.
If that support breaks, our financial system is seriously working without a net. Look out below.
Gold higher again today. I took three rounds of gains in one of my publications on Friday. Maybe a bit too early? But you know what's wrong with 100%+ gains? Nothing!
Don't be greedy.
That said, I still have other positions in place to ride this next wave higher. And my intermediate-term target on gold remains $1,519. So if you're playing this in anything but short-term, just sit back and enjoy the ride. It could be wild!