With gold showing a low resistance path that could pull it back to the low's that we saw in the last week or so. With many analysts offering a much higher price in the upcoming months to years I feel the uptrend will still be respected.
We can see some ranging that could show a pull back to the support around 1700, if a re-test does occur, expect a false...
The yellow metal’s price movements in the past trading session have become increasingly easy to forecast. Moreover, the future also seems clear.
First of all, the bullion has revealed the medium term ascending channel’s borders, which help to predict when the metal will reach above the 1,300 mark. Secondly, the commodity price has reached above the 1,290 mark and...
Quick update in gold..
Price action have been holding up ridiculously well for the past month despite the record pace of rallying in the stock market.
However, the divergence between USDJPY continues which does not bode well for stocks.
On the lower timeframe...
Gold is just about to break a new high created since the beginning of January. A break of this level may send gold even higher. However I do suspect a suspect a 3 wave tracement slightly lower before going higher.
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Coiling within this range since September 2015, lots of potential stored energy in here.
The next breakout candle will be big, I'll be expecting at least $15 within the next 2 months.
At a time of this extreme bearish positioning by hedge fund in precious metal, you should be long...