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 in Aud, page-51

First 51 Last

Share
Profile

Follow
goodoh

765 Posts.

603

22/10/23

18:43

Post #: 70473567
Share

Originally posted by goodoh: ↑

Attached is the monthly and weekly chart of gold in us dollars..
The big picture monthly chart shows that gold has an impulse move from around Aug 2018 to Aug 2020 of about 900 dollars. since then it has been moving sideways for about 3 years. But there is a good possibility that is about to end. If this 3 years rectangle consolidation is a half way pattern and if the second impulse move has just started then and if this second impulse move has the same magnitude as the first move then we have an upside target of about $2700. But the second impulse move is not confirmed until it breakout of the rectangle consolidation pattern. However the weekly chart is suggesting the price will breakout of the rectangle consolidation soon.

Expand

Sorry I made a mistake in the last post in the second gold chart which is the weekly chart. There I put the target price as 3262. It should read as 2362.
Anyway the point I want to make is the target price is above the all time highs which would imply that the target price in the monthly chart of 2700 would likely be reached.
Cheers
6 Upvote

0 Great analysis

Reply

Top Stories

HYT

Twiggy Forrest to acquire 40% of native hydrogen explorer – not long after putting Fortescue Future Industries to sleep

TLG

Talga expands Prospectus Offer to $9M, banks $18.5M overall since end of financial year

EBR

EBR reaches review milestone for wireless cardiac pacing device

I88

Infini rolls on with soil sampling at Portland Creek not long after making possible 'uranium history'

EMR

Emerald expands underground resource by 105Koz at Cambodian gold mine Okvau

There are more pages in this discussion • 100 more messages in this thread...

First 51 Last

Add GOLD (COMEX) to my watchlist