This is just a warning. If gold breaks below the May low in the next day or two I will exit the DUST position just in case gold is about to complete its DCL.

(Click on image to enlarge)

Remember a break below support is the least risky spot to buy as ones stop is actually above price. So while it would seem that breaking the May low would unleash heavy selling it’s more likely hedge funds will be buying a break of the May low. That buying may be enough to trigger the DCL. This might correspond to a marginal break of the December low in silver.

At this point I tend to believe we will need one more daily cycle to complete the ICL and that means we will have another bounce to fleece shorts and give bulls hope. This has been one of the most difficult drops into an ICL I’ve ever seen.

So be prepared to get a text alert at anytime to sell DUST in the next few days.