All I want for Christmas is ..........Gold

I made my list and sent it to Santa, and judging by the action this week we may get a gold rally into December gold delivery month expiration.  My RSI signal fired, it broke its down channel line, and now awaiting my stochastic signal to fire.

From a macro perspective, if investors think taper, and if so, that means unwinding of positions, which is gold positive. The charts are clear that the SPY move and the gold move have been perfect mirrors.

For perspective, I am looking at a 2-3% move for this cycle, with the next cycle in the new year to be much stronger.

In other news, UNG looks like it hit strong resistance, oil is in a weird spot.  I can make the case for a mover in either direction,  URA broke out, volatility should pick up this week, and month, and cooper looks flat.

Hope you had a great turkey day.