Gold- Strong pump coming?
Updated
I've become bullish on Gold since the break above 1830 and after breaking the falling trend line and a new high above 1915 things become pretty clear: Gold has resumed its long-term uptrend.
Although the volatility is very high, looking at the bigger picture, there is one conclusion: dips are bought and Gold is making higher lows.
Technically, as I draw attention yesterday, Gold has made a symmetrical triangle pattern which now is broken to the upside and confirmed.
The target for this pattern is 1k pips and we can expect a rise well above 2000 at 2050 zone.
Of course, buying dips remains my strategy and only a daily close under 1915 would change my perspective.
Good luck!
Mihai Iacob
Although the volatility is very high, looking at the bigger picture, there is one conclusion: dips are bought and Gold is making higher lows.
Technically, as I draw attention yesterday, Gold has made a symmetrical triangle pattern which now is broken to the upside and confirmed.
The target for this pattern is 1k pips and we can expect a rise well above 2000 at 2050 zone.
Of course, buying dips remains my strategy and only a daily close under 1915 would change my perspective.
Good luck!
Mihai Iacob
Note
Gold has broken above 1950
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