Gold has taken off! Will it continue?
Updated
Gold has taken off! Will it continue? It has broke out on good volume. Reverting back to to the averages again, if price holds support, my short term upside target is around 1630. If MACD turns around near zero it would help in propelling the price of gold to that next level. Look for confirmation of support and averages holding! Downside target would be around 1400 - 1360 if thesis is wrong.
Note
My sentiment is that gold will continue to climb higher in a longer term perspective. New price target 1777
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.