Looking at weekly chart, down trend of gold was long over and has recently break out long side trend as well. Gold has formed breakout pattern on weekly chart, where it has surpassed strong resistance of $1365 (facing since February 2016).. If we look at long-term investment horizon 3-4 years, Gold is ready to take off for new all-time high. Targets are determined using fib retracement from previous downtrend; alternatively, green lines show target /resistance it will hit in its uptrend.
Trade active:
Gold target1 1468 achieved !!! Yay
Next 1571..
Next 1571..
Trade active:
Gold target2 1571 achieved!!
Next 1720..
Next 1720..
Trade active:
1720 target achieved.. good to book profit at 30 % investment..
will get chance to buy at lower price price in a month or two from here.
will get chance to buy at lower price price in a month or two from here.