Gold Consolidating For Now!
Gold is showing strength but is still inside a consolidation zone which began on the 14th April.
Price attempted to breakout above the consolidation resistance level at $1747 in May but failed.
So far, price is looking strong this week and with enough momentum, we may see a breakout soon
but we need to wait for it to happen to confirm a continuation to the upside.
Gold tends to trend well over the long-term, so despite the current sideways movement,
over time we may well see Gold continue to rise.
This commodity requires a lot of patience and if the uptrend continues then we should see price reach
the current all-time high at $1920 sometime in the near future.
See below for more information on our trading techniques.
As always, keep it simple, keep it Sublime.
Price attempted to breakout above the consolidation resistance level at $1747 in May but failed.
So far, price is looking strong this week and with enough momentum, we may see a breakout soon
but we need to wait for it to happen to confirm a continuation to the upside.
Gold tends to trend well over the long-term, so despite the current sideways movement,
over time we may well see Gold continue to rise.
This commodity requires a lot of patience and if the uptrend continues then we should see price reach
the current all-time high at $1920 sometime in the near future.
See below for more information on our trading techniques.
As always, keep it simple, keep it Sublime.
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