Gold Attempts Record High!

Gold had an attempt at the August 2020 all-time high at $2075 this month but has
come short of even breaking through this level.

Price was only $5 away from having a shot at creating a new record high, but the
sellers came in strong to ensure that never happened.

What does this mean for price now? Since there has been some short-term weakness,
we want to identify areas of support that price may come to. This support could act
as a springboard that helps to push price back towards this all-time high resistance level.

Price is now trading below the $2000 round number, so the next level of support based
on this timeframe is the previous all-time high from September 2011 at $1920.

There is another level just before that, which is also classified as a strong level of support,
and that is last year’s high at $1959.

We will have to keep an eye on Gold because if there is a breakout, we could be in store
for a long-term trend lasting several years.

See below for more information on our trading techniques.

As always, keep it simple, keep it Sublime.