Gold is ready for a rally towards 2,700
Gold is in a long-term uptrend and we have already seen the first, but failed, attempt to break above the former all-time high at 2,072. I do expect the next attempt to be successful and break clearly above the former peak at 2,072 for a rally towards at least 2,400 and likely even closer to resistance at 2,700.
If we see gold in a blow-off rally, then we could see gold move as high as 5,000, but only time will show if this is the case.
Long-term support is seen at 1,810. This support should not be broken at anytime or a revisit to support at 1,614 will be seen.
No comments:
Post a Comment