Thursday, August 18, 2016

Gold: Just the facts mam...

Recently we showed that gold was ready to pause (Gold: About to take a break?) and in fact that is what is happening right now.
Currently gold is consolidating just beneath the upper boundary of multiple resistance levels(horizontal, gann, monthly ichimoku).It looks like it is forming a continuation triangle (a bullish flag which means a move towards 1300 cannot be excluded).Fibo, EW and classic TA studies suggest a target for gold at 1450-1500$ on condition that it manages to break above 1370-1400$

Happy trading!