Gold Spot / U.S. DollarUpdated Gold has broken up from the descending channel.
Hard to say whether or not it will reach its full target, but seeing as how it is already pretty close to that target, the risk to reward ratio of trying to jump into the trade now in hopes that it will is not worth the risk imo. As a long term hold I still see gold as a wise investment though so it wouldn’t be the worst thing to buy some here and maybe wait for a correction after this breakout move to accumulate more. *not financial advice*
Note
Target hit and then some!
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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.