Gold is in a short term pennant triangle and resolution should be coming shortly. Price is currently sitting just above the upper band of an ascending channel from beginning of May and is crunched between the upper band of a longer term ascending channel that has been acting as resistance since mid-2018.
Looking for short-term pullback to the $1,736 level and bouncing off that support level to a new cycle high with a price target of ~$1,795.
Looking for short-term pullback to the $1,736 level and bouncing off that support level to a new cycle high with a price target of ~$1,795.
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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.