Gold: Possibly Targeting $1400-$1450

Gold: Possibly Targeting $1400-$1450

3 August 2016, 12:58

Commodities Performance-All Trades


This past week has been one of the best for Gold which has followed a strong bullish trend with minor pullbacks. The last update on gold was published 1 week above when it was trading on $1325 level while we had upper targets. The general view on gold remains the same with the uptrend coming to its end and with a deeper correction on the table. However there is one slight change in this analysis as suggested by the latest rally and break of $1250-$1260 levels. 

Previous article - Gold: Upside Potential Ahead of FOMC 


Gold Daily Chart - August 3, 2016



It is obvious from the chart below that the 5th wave up is an ED as all waves up to now have 3 lower level waves, but ...Read More 

Share it with friends: