Australia's largest stock trading and investment forum Australia's #1 stock forum

GOLD

Click for more information

0.51%

$1,391.7 gold futures

Gold Futures Price Action, page-57

First 57 Last

Share
Profile

Follow
Jagster Trading

601 Posts.

28

07/09/16

02:53

Post #: 18978096
Share

Originally posted by Jagster Trading ↑

Below is a weekly chart of the Gold cfd.

Price is at an important juncture at the moment with the odds favouring of a bullish move to the upside above major down-trend resistance. Up-trend support near 1310 and 1280 needs to be held for a continuation of the bullish trend. Any breach below this would need to be recovered quickly to support the bullish case.

IMO this is a very bullish chart with momentum firmly pointing upwards. Key would be a BO above down-trend resistance over the next few weeks followed by a BO above horizontal resistance at the recent 2016 high of 1377 by Q3 end. There is strong resistance up to about 1390 with psychological resistance near 1400. My year-end target high remains a reachable 1500.

View attachment 224604

Expand

There's a lot of strength behind this latest Gold rally. A BO above major TL resistance / OH resistance at $1357 appears to be on the cards. Perhaps before the week is out.

Then the next area of OH resistance would be near $1366. Go Gold!
1 Upvote

0 Great analysis

Reply

There are more pages in this discussion • 278 more messages in this thread...

First 57 Last

Add GOLD (COMEX) to my watchlist