GOLD is breaking out of a bullish flag pattern. There will probably be a retest of previous resistance to turn it into support so we will need that to hold to confirm the breakout. Also, note how on the last Stochastic pullback that the price barely fell coming nowhere near the support line. A good sign of strength.
Initial price targets are the dashed green lines. The lower line matches up with the 38.2% Fibonacci Extension & previous resistance/support zone. The higher dashed line is the 50% Fibonacci Extension level & the $1,600 psychological whole number.
Initial price targets are the dashed green lines. The lower line matches up with the 38.2% Fibonacci Extension & previous resistance/support zone. The higher dashed line is the 50% Fibonacci Extension level & the $1,600 psychological whole number.