I do not have a good read on this as a result of this, but since the weekly trend by the way I measure it has turned down, I am looking for sell signals on bounces.
Gold is a market I have not covered much just because my setups have to been there for any trades yet. You can see on the chart below, there are some minor divergences developing but the trend is very strong up here. There is no reason to get too excited about shorting this until something more than this develops. I love to trade the metals due to the volatility in them, but there just have not been any really good setups in my world. As I stated before, I don't force trades. I know I can make a months worth of profits in a few days, so I wait ( not patiently ), for the right trades to present themselves.