gold_gary

Gold New Highs by Mid-September

TVC:GOLD   골드 (US$ / OZ) CFDs
Gold is difficult to forecast now, it is at a pivotal point where indicators suggest it could breakdown or breakup. I think it will breakup soon due to fundamental reasons and patterns in the stoch RSI and MACD. By looking at numerous cycles and past price action, I would expect new highs by mid-Sept. I think we have strong support around 1890-1900, I can see retesting this level but a break below would surprise me. Nothing is certain, but that's my forecast.
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