There is no more relevant resistance in front of it.
His positive bias, the tank of BTC and geopolitical situation may lead GOLD to skyrocket and reach at least 1337
Gold has been trending up in an ascending channel and broke previous resistance zone and appears to be retesting the area as new resistance. We face a great reversal possibility to the upside. Entry will be on the close above resistance trendline and some kind of bullish confirmation.
Gold lost 42 USD over the last 4 trading days and briefly touched 1,315 USD intraday..
The recovery since then is bullish and could indeed be the beginning of the final 5th wave up targeting around 1,375 - 1,400 USD.
1h and 4h chart getting overbought already so an immediate entry does not make too much sense but it could very well mean that anybody who got...
IDEA:
Technicals: Expecting long move @ Daily S2 Pivot 1309.78. Profit target set at Daily R1 Pivot 1334.71. Looking for Fibonacci resistance on the way down the channel to the entry and support on the way up to profit target.
Fundamentals: North Korea fired another missile over Japan a few hours ago. Nuclear tension has seen gold prices rise into the weekend....
Gold has been bullish since 10th July and I don't see any reason for it to stop now. Gold is on a mission to the top or at least 1366 but I believe in 1400+ very soon in the next 1-3 weeks. I have two long positions open around 1346 and first tp is at 1366 area. Let the game begin!
The gold chart is on a long-term upside
Most likely, the fall in gold prices, which began in 2011, has come to the end
> And of course, the price trend of silver is like gold
Resistance levels: 1,355 + 1,375 +1,400
Support levels: 1,325 + 1,295 + 1,285
Outlook 2017-09-07 :
Gold has generated a mid-term buy signal at $ 1,296 and confirmed the signal by soaring above $ 1325. The upside potential of Gold has not yet been exhausted.
Facts:
The bulls provided enough buying power to support $1,199 and put an end to the downside...
Idea: GOLD continuation long if it can hold yesterday's Daily pivot .
DISCLAIMER:
This is where I practice ideas and work on my trading techniques. Please note I am only providing my own trading information for insight to my trading techniques, you should do your own due diligence and not take this information as a trade signal. Trade at your own risk.
Normally I trade cryptos, but we crypto-fans also need a safe harbor. That's why I've analyzed gold in the long run. My results are shown below. I see an absolute minimum of 2,800 / 3,000 USD. Surely it will be even more at the end of time.
Let's see what happens. Happy trading. :-)
