Gold broke out of the pennant formed over the last few weeks....This is very bullish and looks like only the beginning of another big move up. This move will be facilitated by extreme volatility brought on by the trade war escalation and tweets over the weekend from DJT....I expect strong resistance at 1600...Buckle up!!!
Goood projection it came through and went more bullish. When do you see more resistance in long run like major resistence? Can you do a long term macro trend for gold?
GoldAddict
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@soulicious, I see 1600 as a major resistance...if you look at the long term chart there is a lot of resistance between where we are now and the all time highs...it will take some time to break out to new all time highs again...I don’t see that happening for a little while...Maybe by next year sometime...that’s if there isnt a total meltdown though