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hweikang0828
Feb 23, 2020 1:21 PM

GOLD Trend Long

GOLD (US$/OZ)TVC

Description

I have to be honest, that I was earlier bearish about GOLD before. But after reading the news about Italian, Korean, Japanese corona infections, I think there is no doubt that GOLD is gonna fly higher. So when I look back into the chart, I see a clear uptrend since Oct,1,2018. Basically everytime gold falls below the support line, it would take some time to climb, and reach a $300 climb. This time we got a similar situation. And when you zoom out to the weekly perspective, there is obviously a huge Cup and Handle. So my assumption is GOLD will eventually reach that level, and from that moment it might start falling, probably just a little bit. My target price for GOLD now is around $1763, and that price might be reached in less than 2 weeks.
Comments
Etrader-forex
Hi, love it ! totally support your analysis ! . this is my trading idea

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