- Today it's the 2nd day when we are bouncing off the pennant's upper .
- We closed near to the daily maximum.
- We closed above th 10 - so the 10 is holding the price
- The last 20 tag was 38 days before (!!!!) - 2months....
It means to me that gold is breaking out of the consolidation tomorrow. The maximum pullback we will get is around 1265 (I was hoping a pullback to 1260 but that's a dream only) - this pullback will happen in the first 2 hours of trading GMT 0.00 and GMT 01:00. I want to add to my gold positions so I will choose these hourly candles for adding.
How far can we go? Check my OIL - De Ja Vu chart. It'S THE SAME PATTERN ...
In an extreme situation we can run 200$ more.... It depends on the dollar.
The minimum target is: 1307
The next one is 1345
After that: 1392
And the final target is around 1440...
I think we are going to rally till mid of next week.
Have a good trading and thank you for support.