February 16, 2024 -(Gold Market Wire) - Our spec long worked out well. It was simply the logical place to bounce. Horizontal support and the 100-day Moving Average were good enough to take the position. As the market runs up, what next?

Our resistance line is clear:

And the over hang of the market is steep. We entered the trade as a spec, and we don't see the point of changing the rationale for the position. It was just a spec.

Taking profit and going back to the sidelines. The market likely has further to fall before it runs higher.