This is our monthly illustration which we have been sharing regularly and using to guide us through the markets. It was last shared a good few months ago where we said we have added a new target level above and below for Gold. We said we would be using the smaller time frames to guide us in the right direction to either or target level. As you can see from the chart, the higher target is now looking achievable, however, we’re not quite ready yet in our opinion. The move on this chart is dependent on the price stability above that order region sitting at 1850 which has been cleared for now.
We’re sharing for reference purposes so traders have an idea of what price can be targeted if they really want to move this. As you can see from the chart and if you go back over our posts on the monthly chart, we’ve completed most of the targets on this chart for more than a year.
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The monthly outlook for Gold looks promising with the higher target coming into view. The stability above 1850 seems key for this trajectory. Appreciate the consistent and in-depth analysis over the months. Keeping an eye on how it aligns with the smaller time frame movements. Trade safe!