Gold Bullish Momentum!
Last week I posted on Gold and highlighted the fake breakout of the September 2011
high at $1920. Despite February’s candle forming a fake breakout of this level,
we see strong moves above it again.
Price could end up closing below $1920 by the end of the month, but the buyers do
appear strong for now. When Gold trends, it usually lasts for months and years.
Before a trend can begin, however, we need to see a breakout of the consolidation high,
which is also the all-time high at $2075, and that was formed in August 2020.
With a strong bullish candle in February and another one so far for March, the momentum
could be building up to create new all-time highs. Gold is definitely on our watchlist.
See below for more information on our trading techniques.
As always, keep it simple, keep it Sublime.
high at $1920. Despite February’s candle forming a fake breakout of this level,
we see strong moves above it again.
Price could end up closing below $1920 by the end of the month, but the buyers do
appear strong for now. When Gold trends, it usually lasts for months and years.
Before a trend can begin, however, we need to see a breakout of the consolidation high,
which is also the all-time high at $2075, and that was formed in August 2020.
With a strong bullish candle in February and another one so far for March, the momentum
could be building up to create new all-time highs. Gold is definitely on our watchlist.
See below for more information on our trading techniques.
As always, keep it simple, keep it Sublime.
