CFDs on Gold (US$ / OZ)Updated is GOLD ready to breakout?
On this weekly chart... GOLD is shown to be in an uptrend (higher highs, higher lows) YTD. The last higher low was made at a well tested support/resistance zone (light orange rectangle). Personally, I would wait for a breakout of the down trend line in place since its high in 2011 before going long, i.e. wait for a confirmation. If GOLD does break out, the measured move target is 1550.
Note
Off we go!
Charts Avenue
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Charts Avenue
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.