Gold: Big gains likely above $1,835
Gold's weekly chart shows:
Double bottom at 38.2% Fib retracement marks an end of correction from the record high of $2,075.
RSI about to breakout from a triangle pattern.
A convincing move above the immediate resistance at $1,834 (Aug. high) would validate the above mentioned bullish developments, opening the doors for a re-test of $2,075.
A move under the weekly low of $1,758 would negate the bullish bias.
Double bottom at 38.2% Fib retracement marks an end of correction from the record high of $2,075.
RSI about to breakout from a triangle pattern.
A convincing move above the immediate resistance at $1,834 (Aug. high) would validate the above mentioned bullish developments, opening the doors for a re-test of $2,075.
A move under the weekly low of $1,758 would negate the bullish bias.