There are nice bullish divergences building on this 60-min chart of /GC (gold futures) as GLD (gold ETF) trades around the 120ish support level after a couple of minor, potential stop-clearing dips below.

Still awaiting a breakout above the EUR/USD falling wedge for a buy signal on gold, silver & GDX although it does appear that the R/R for a long entry on gold here with a relatively tight stop is favorable although certainly a somewhat aggressive, counter-trend trade. Just passing it along as an unofficial trade for now while under consideration as an official trade, should the charts continue to firm up. /SI (silver futures) and SLV starting to look compelling as well & if both gold and silver run, the miners will almost certainly follow.

EUR-USD daily May 3rd

EUR-USD daily May 3rd

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