Gold broke through long term resistance, because of ukraine conflict. Gold is forming a rising wedge, with a target of 2.4k, Gold is often known as a save haven in crisis.
The volatility index also had a breakout, which underlines the market fear. Gold will climb above 2k very soon, there is not much resistance above right now.
Stop loss to 1940 dollars because of breakdown of support, and take profit at first to 2150 dollars.
We could see a retest of the support, so be prepared!
If you want to trade GOLD, I would trade on Libertex.
As always this is no financial advise! Do your own research!
The volatility index also had a breakout, which underlines the market fear. Gold will climb above 2k very soon, there is not much resistance above right now.
Stop loss to 1940 dollars because of breakdown of support, and take profit at first to 2150 dollars.
We could see a retest of the support, so be prepared!
If you want to trade GOLD, I would trade on Libertex.
As always this is no financial advise! Do your own research!