Gold

Paper gold, GLD, sits above 12/4/09 gap resistance shown as by the dark cyan line on quiet trading. This zone represents major resistance from the previous C-wave high. The clustering of gaps, 5/11, 5/19, and 5/26, reflects the importance of this zone. The longer price sits above this zone, the stronger the pull of the 5/12 high exerts on price. $1350 range gold remains a reasonable target for this move.

Gold ETF (GLD):