Gold price has reached our second target of $1,350. Price remains in a strong up trend. Next target is at $1,380. Gold longer-term trend is bullish. We can expect a pull back between $1,330-$1,300 before the next big upward move.
Gold price remains in an up trend as price is holding above both the tenkan- and kijun-sen indicators. Price is making higher highs and higher lows. Support is at $1,344 and next at $1,330. Resistance is now at $1,374.94 at the July high of 2016.
Magenta line – resistance
Blue line – support
Gold price has reached our second target at $1,350 where we find the magenta trend line resistance. Price is marginally trading above it. I believe we will eventually break it and move towards our third target of $1,380. Long-term trend is bullish. Pull backs will come and I expect to be a buyer again.
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