Oro / DollaroLong
XAUUSD - Gold Monthly Target
Overview:
Gold and silver have outperformed most other "safe haven" assets. These precious metals are ending the year with remarkable gains. Investors have flocked to them as hedges against inflation and market volatility, helping to drive their values upward.
Price:
The Bull trend started back in March! (2040). Nine months of continued bullish price actions and blue candles and the price has topped all the way to 2800. Last month (November) we saw gold drop to 2500 finding support.
Today gold is back on track creating higher highs in the intraday timeframes.
Monthly:
The Cup and handle pattern. On the monthly gold is currently in the cup and handle bull run. Pay attention to the Fibb retracement levels. Gold has already touched the 50% and found support at the .618. With the current volume and bullish momentum, gold could easily find the strength to break higher and reach the target (3500) in the next 3-4 months
Monthly Pattern Target:
3560
Key Levels:
Resistance:
2750
3150
Support:
2500
2600
Gold and silver have outperformed most other "safe haven" assets. These precious metals are ending the year with remarkable gains. Investors have flocked to them as hedges against inflation and market volatility, helping to drive their values upward.
Price:
The Bull trend started back in March! (2040). Nine months of continued bullish price actions and blue candles and the price has topped all the way to 2800. Last month (November) we saw gold drop to 2500 finding support.
Today gold is back on track creating higher highs in the intraday timeframes.
Monthly:
The Cup and handle pattern. On the monthly gold is currently in the cup and handle bull run. Pay attention to the Fibb retracement levels. Gold has already touched the 50% and found support at the .618. With the current volume and bullish momentum, gold could easily find the strength to break higher and reach the target (3500) in the next 3-4 months
Monthly Pattern Target:
3560
Key Levels:
Resistance:
2750
3150
Support:
2500
2600
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