GOLD CUP AND HANDLE STILL IN PLAY

GOLD is still in sideways consolidation. This shows that the bulls have been taking a break from the big move up in the last couple of months. I expect Dovish Federal Reserve decisions to give GOLD the fuel to push up and continue the move higher breaking out into multi year highs. The fed has capitulated, there will be no rate hikes. The market already knows this and has made its move higher. GOLD has not reacted to this new news. Since the FED capitulated gold has been trading sideways. This sideways trading is a great sign. No real bull market can go straight up without consolidation to shake out the speculators. Expect solid volume to pick up soon as buyers realize that GOLD is about to break out into another impulse wave higher.