Gold Aiming To Leave Consolidation
Gold is clearly in consolidation and stuck between a high of $1920 and a low of $1046. This is just
Gold’s way of recovering following its 10-year 630% rally prior.
During the consolidation period, price was on a decline which almost made it to $1000 and has since
recovered by 63%. As long as the current uptrend within the consolidation zone continues, then we
want to see price continue towards the all-time high.
A break a close above the all-time high at $1920 should see a continuation in Gold but we have to
bear in mind that the major psychological $2000 round number may be a strong level of resistance.
At the moment we are mainly focusing on stocks as they are currently on the rise but we intend to
keep a keen eye on Gold for potential investment opportunities.
See below for more information on our trading techniques.
As always, keep it simple, keep it Sublime.
Gold’s way of recovering following its 10-year 630% rally prior.
During the consolidation period, price was on a decline which almost made it to $1000 and has since
recovered by 63%. As long as the current uptrend within the consolidation zone continues, then we
want to see price continue towards the all-time high.
A break a close above the all-time high at $1920 should see a continuation in Gold but we have to
bear in mind that the major psychological $2000 round number may be a strong level of resistance.
At the moment we are mainly focusing on stocks as they are currently on the rise but we intend to
keep a keen eye on Gold for potential investment opportunities.
See below for more information on our trading techniques.
As always, keep it simple, keep it Sublime.
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