The price momentum or average gold price is $1,283, and the market closing above it, activated the S1 of $1,298 and S2 of $1,306.
If we come back down below $1,299 after completion, you will probably be stopped out and go neutral.
If it goes down below $1,283, after making it up to the targets at S1 and S2, it would activate B1 of $1,274 and B2 of $1,260.
We published a report on Seeking Alpha on April 22, 2019, called “Special Gold Alert: Is the $1,456 Handle Possible in 2019?” In that report, we looked at price relationships in gold in the structure of the supply and demand levels that is identified by the Variable Changing Price Momentum Indicator (VC PMI) artificial intelligence. It identifies the average price and two levels above the average price, the sell 1 (S1) and sell 2 (S2) levels, and two extreme levels below the mean, which are the buy 1 (B1) and buy 2 (B2) levels. In the report, we said that $1,281 was the average price, and if the market came down below $,1281, it would activate the extreme levels below the mean.