Gold bull markets: History and prospects ahead
Would you like to know one simple way of achieving investment successes and getting rich? That’s great, I will reveal this secret to you – and you even don’t have to click anything! The trick is to find a bull market and go long! And, what a coincidence, gold is right now in the bull market… If you don’t believe, then look at the chart below.
If the chart does not present the bull market then I have no idea either what it presents or what is the bull market. As you can see, gold gained about $800, or two thirds, since the autumn of 2018, which seems to be quite bullish! Read More...
Gold triangle pattern completing final wave E pattern
Gold (XAU/USD) is confirming a contracting triangle chart pattern. This price pattern was expected in our analysis after price action strongly dropped within a large and established uptrend. Is the triangle now close to being completed?
The XAU/USD is now testing the bottom of wave C (blue box). This is a critical and interesting point of any potential triangle pattern. The reason is simple: price is close to either confirming (green check) or invalidating (red x) this wave pattern. The retest of the previous bottoms could be a final wave E (orange) and indicate the end of the triangle pattern. This would also complete wave 4 (purple). Read More...
Gold: A break above 1961 is a short term buy signal
Gold Spot broke below 1942 for a short term sell signal targeting 1937, 1931 & our buying opportunity at 1924/22. This trade worked perfectly as we bottomed exactly here & shot higher to 1941.
Silver Spot longs at 2725/15 worked perfectly as we shot higher to the target of 2760/70 & topped exactly here. However we reversed & broke 2725/15 for our sell signal targeting 2650/40 & bottomed exactly here.
Gold meets first resistance at 1947 for some profit taking on any remaining longs. Sell at 1950/55 with stops above 1961. A break higher is a short term buy signal targeting 1970/72 & perhaps as far as strong resistance at 1983/86. Shorts need stops above 1991. Read More...
Information on these pages contains forward-looking statements that involve risks and uncertainties. Markets and instruments profiled on this page are for informational purposes only and should not in any way come across as a recommendation to buy or sell in these assets. You should do your own thorough research before making any investment decisions. FXStreet does not in any way guarantee that this information is free from mistakes, errors, or material misstatements. It also does not guarantee that this information is of a timely nature. Investing in Open Markets involves a great deal of risk, including the loss of all or a portion of your investment, as well as emotional distress. All risks, losses and costs associated with investing, including total loss of principal, are your responsibility. The views and opinions expressed in this article are those of the authors and do not necessarily reflect the official policy or position of FXStreet nor its advertisers.