Gold Bullish Momentum!
Last week I posted on Gold and highlighted the fake breakout of the September 2011
high at $1920. Despite February’s candle forming a fake breakout of this level,
we see strong moves above it again.
Price could end up closing below $1920 by the end of the month, but the buyers do
appear strong for now. When Gold trends, it usually lasts for months and years.
Before a trend can begin, however, we need to see a breakout of the consolidation high,
which is also the all-time high at $2075, and that was formed in August 2020.
With a strong bullish candle in February and another one so far for March, the momentum
could be building up to create new all-time highs. Gold is definitely on our watchlist.
See below for more information on our trading techniques.
As always, keep it simple, keep it Sublime.
high at $1920. Despite February’s candle forming a fake breakout of this level,
we see strong moves above it again.
Price could end up closing below $1920 by the end of the month, but the buyers do
appear strong for now. When Gold trends, it usually lasts for months and years.
Before a trend can begin, however, we need to see a breakout of the consolidation high,
which is also the all-time high at $2075, and that was formed in August 2020.
With a strong bullish candle in February and another one so far for March, the momentum
could be building up to create new all-time highs. Gold is definitely on our watchlist.
See below for more information on our trading techniques.
As always, keep it simple, keep it Sublime.
Join Our Private Community
bit.ly/join-ST-community
Plus Get Our Ultimate Stock Market Blueprint.
bit.ly/join-ST-community
Plus Get Our Ultimate Stock Market Blueprint.
Related publications
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.