XAUUSD: Gold is trending from here...

I think we may be in the presence of a 3-day timeframe uptrend signal in Gold. Similarly to the pattern that emerged after bottoming in late 2015, Gold prices are set to soar from here onwards, if this signal pans out. Monthly and higher timeframes are bullish as well, so we might be in for a ride, with prices rallying over 1400 if we break over the long term uptrend mode you see in white above (white box on chart).

As I was describing in my Silver publication, fundamentals, sentiment and technicals align, so we can expect a sizeable long term move off this juncture. One interesting sidenote is that cash levels in brokerage accounts are at really low levels, which also favors the bullish gold case, together with the evidence presented in the other chart.

You may go long here or on dips, preferrably buy on dips if not already in. We hold long positions since I published my macro analysis chart when gold was roughly 1179, and looking to add to it on dips here.

Best of luck,

Ivan Labrie.

Comment:

See the bottom pattern in 2015:

Comment:

The trend in #XAUUSD is very clear, it's stalling after reaching the first target, but likely to march higher over time as well

Comment:

#XAUUSD has time to rally to its 2nd target, already in the green having met the first objective with time to spare, and having breached the downtrend linear regression channel resistance

Comment:

#XAUUSD looks reminiscent of the bottom in 2015, the next logical step is a retest of 1260 during November, and likely extending gains higher, sharply, after breaking above this zone over time, hodl...