Gold prices: how could one enter this fast-moving market?
Updated
Gold prices are entering a parabolic move following a breakout from a triangle pattern formed throughout most of May. We are also nearing the target of $2537, a level identified from a major inverse head and shoulders pattern reported on the ThinkMarket website in December and February.
In the short term, traders are likely to wait for a 50% correction of the latest bull move, which would bring the price down to roughly $2438 and potentially further to $2398, before targeting $2500.
What is your take on Gold prices?
As always, do your own research and proceed with caution. This content is not directed to residents of the EU or UK.
Any opinions, news, research, analyses, prices or other information contained on this website is provided as general market commentary and does not constitute investment advice. ThinkMarkets will not accept liability for any loss or damage including, without limitation, to any loss of profit which may arise directly or indirectly from use of or reliance on such information.
In the short term, traders are likely to wait for a 50% correction of the latest bull move, which would bring the price down to roughly $2438 and potentially further to $2398, before targeting $2500.
What is your take on Gold prices?
As always, do your own research and proceed with caution. This content is not directed to residents of the EU or UK.
Any opinions, news, research, analyses, prices or other information contained on this website is provided as general market commentary and does not constitute investment advice. ThinkMarkets will not accept liability for any loss or damage including, without limitation, to any loss of profit which may arise directly or indirectly from use of or reliance on such information.
Note
The price is now in the value area, and the trend dictates that the price should be able to turn higher. 2398 remains the invalidation lelvel of this trend.
Disclaimer
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