Midterm view on Gold - TECHNICAL ANALYSIS ONLY
Updated
The precious metal is consolidating by forming lower highs since the 5-year high 1440$ per ounce. In fact it has been a month we experience sideway movements while the daily traded volume remains steady. There is an upcoming volatility probably delayed by crucial pending news reports.
Possible Targets: 1500.00 or 1300.00 if the security enters a bearish run.
Advice: Stay bullish and buy at low points while we don't break down the demand level of 1380.00
Possible Targets: 1500.00 or 1300.00 if the security enters a bearish run.
Advice: Stay bullish and buy at low points while we don't break down the demand level of 1380.00
Note
false breakout on top of the bull flag. The security remains bullish.Note
Note
Gold has been ranging for more than 2 weeks awaiting the fed cut news and the crucial US economic data this week.Note
The Bull Flag was broken out pushing prices upward. We are eager to see 1500.00 by September.Note
We are close to our target 1500.00Trade closed: target reached
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