Falling Wedge broke upwards and started major bullish trend on 4 hour chart. This week I expect a big rise in gold and downtrend on DXY to continue which is good for gold. Intermediate-term price target of 2427-2465 has been opened.
- Price Target in Intermediate-term (6 weeks-9 months) : $2427-2465
- Price Target in Long Term (More than 9 months) : $3000
- Support Level : 2019.22-2041.49
- Macroeconomic Situation :* Due to the American debt crisis and interest rates will soon fall; individual investors, companies and central banks continue to buy gold/silver.
* The crisis in the Middle East will push gold/silver price even higher.