After a brief but volatile dip, gold is again testing resistance at $1800/ounce. Rising Momentum threatens an exponential up-trend, with rapid gains and short retracements. Breakout would signal an advance to $2000.
* Target calculation: 1800 + ( 1800 – 1600 ) = 2000
Always bear in mind that exponential trends make rapid gains but inevitably lead to a blow-off; and stop losses employed in a normal trend are likely to react too late.
Every one saying it will correct. And it keeps going up. As per my analysis, gold has just given a long term breakout after crossing its previous high in inflation adjusted $ term value. So now its real time to catch the uptrend may be 2000$, 3000$ or more with stop loss below recent low i.e 1700$. Gold has completed its rounding bottom formation. What’s ur take on this?
Gold faced resistance at $ 1912.30. The correction tested $1820. The short term rally could take place above $1860 to test $1890. Break out above $1913, Gold could test $ $2020. Any idea on the time limit?