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kowloonboys

short term gold trend

Long
CFDs on Gold (US$ / OZ) (TVC:GOLD)  
kowloonboys Updated   
TVC:GOLD   CFDs on Gold (US$ / OZ)
Chart Patterns
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chartpattern
When was the last time that GOLD up more than 15% in a month? Maybe 2011? For someone long GOLD this is somehow too good to be true. After the crazy rally and now is getting a little uncertainty. Yesterday it hit the uptrend resistance at 1720 level (3rd try since Feb 2020) and now moving back to the average at 1680 level which is rather a safe entry level

Prediction: Bullish for short term and see if it can break the next resistance or not.
Comment:
Breaking into the support level and the bullish trend outlined last week becomes invalid if price cannot sustained by tomorrow. If that is the case, I may suggest to take profit (or cut loss).
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