This is our monthly chart that we have been sharing regularly with the wider community. It’s been working well for us combined with the intra-day trading strategy and Excalibur guiding us. We’re sharing it again for reference purposes showing the levels and targets we have completed for over a year for the longer trades. On this chart we added the higher target the last time we shared it which has now been completed. Support here stands at the 1976 level which if targeted and held will still give possibilities for a swing to form and then again attempt the all time high!
What we need to keep in mind however, which is what we’ve been saying for a while now, is those lower targets which remain untouched! Not saying we’re going there, we’ll trade it how we see it but for now.
Key levels on the Monthly chart:
Support: 1991 / 1966 Resistance: 2064
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As always, trade safe.
KOG
Comment
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Key level support 1991 is now complete on this chart. 1976 and 1966 are still open!
So due to your open targets and actual development I can conclude that gold will have downside before a rise with rate cuts later this year. According to my estimates this fits well the broader picture right now! That’s for Sharing