Gold GCQ1 update

Precious is on the roll. Portugal downgrade and euro weakness gave it "new reserve currency" status back. It is now above 50 dsma and looks to do some serious damage. There is really no formidable resistance all the way to 1559 an then the high @ 1577. Shorts are wisely covering here. Support will be at 50 dsma and 1512 below that. Wanna buy a pullback? Once GC starts trucking it ain't gonna give you one. Switch to short-term frame and pick a spot. Good luck...