Another FOMC day and another time for gold to set its compass right. Good that we still haven't closed our tiny short yet ( please look at the linked previous post for more info). Since nothing has changed substantially, we are putting the same chart again with resistance lines little extended to the right ! Levels to look for short opportunity are 1200, 1220 and 1240. Volatility can be gut wrenching so if your risk tolerance doesn't allow you to dabble in futures market then preferred way to put on short is via puts on gold ETF.
