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Gold’s Upward Momentum Continues: Key Resistance Levels and Measured Move Target
video Gold triggered a bullish trend continuation as it advanced to a new trend high on a move above 1,964. Today’s high of 1,984 was at the lower range of a resistance zone from 1,983 to 1,987, while the top of the range completes a 50% retracement. Also, an ABCD pattern extended by the golden ratio of 161.8% completed today at 1,971. chart The prior two rallies, starting off the September low, were 21.4% and 15.4%, respectively. As of today, the current rally has advanced as much as 4.8% as of today’s high. If we assume that the rally ends with gold up 15%, then gold would match that advance at 2,177. ... (full story)