Dec 2017 GOLD long term monthly analysis
Updated
GOLD
1. Gold price broke above monthly downward trendline from 2011 and retest it, also below has multi years upward support trendlinefrom 2001, once monthly close above previous lower high $1377.5 will confirm monthly uptrend, bases on channel projection, target may above $7000.
2. Gold retrace 50% of 2001-2011 price movement, and retest previous ATH at $1037.5
3. Monthly 7MA is pointing upward with candlestick pattern confirm 7MA as support
4. MACD is above 0 confirm potential uptrend
Conclusion: as long as price hold above Dec low of 2017, price is likely continue upward, once monthly close above previous lower high at $1377.5, monthly uptrend will be confirmed. For years of invest strategies, hold some gold.
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BTC: 13vWsgZMsNsjR37HoyVpLnLTwPFYQv7HHG
LTC: LTk1vhxgg7up7ouRf8WNgoFFq2VJptmCA4
DOGE: DKT6Mvqyhqn6GbkVCS8hRLoobQ7e38MMNd
1. Gold price broke above monthly downward trendline from 2011 and retest it, also below has multi years upward support trendlinefrom 2001, once monthly close above previous lower high $1377.5 will confirm monthly uptrend, bases on channel projection, target may above $7000.
2. Gold retrace 50% of 2001-2011 price movement, and retest previous ATH at $1037.5
3. Monthly 7MA is pointing upward with candlestick pattern confirm 7MA as support
4. MACD is above 0 confirm potential uptrend
Conclusion: as long as price hold above Dec low of 2017, price is likely continue upward, once monthly close above previous lower high at $1377.5, monthly uptrend will be confirmed. For years of invest strategies, hold some gold.
Accept Tips
BTC: 13vWsgZMsNsjR37HoyVpLnLTwPFYQv7HHG
LTC: LTk1vhxgg7up7ouRf8WNgoFFq2VJptmCA4
DOGE: DKT6Mvqyhqn6GbkVCS8hRLoobQ7e38MMNd
Note
Monthly screenshot 
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