Gold - bullish embedded stochastic ! 1,290/1,300 USD is next
Gold remains very bullish here despite any overbought readings..
The breakout above the 6-year downtrend-line is super super bullish. Its the strongest signal for gold since 6 years !!!
With the slow stochastic oscillator being embedded the rally will very likely continue over the coming days and weeks towards 1,295/1,300 USD.
From there we should or could get a pullback towards the former downtrend-line which by then should correspond with the rising 200MA. That would give you another chance to buy into a dip around 1,250 USD.
But of course its not sure. Gold could first run towards 1,370 USD too as the 6-year downtrend-line has been such a depressing factor that is now history! A pullback from those levels would end certainly higher than 1,250 USD.. probably 1,280/1,290 USD... but that´s all hypothetic for now.
JUST LET YOUR WINNINGS RUN
The breakout above the 6-year downtrend-line is super super bullish. Its the strongest signal for gold since 6 years !!!
With the slow stochastic oscillator being embedded the rally will very likely continue over the coming days and weeks towards 1,295/1,300 USD.
From there we should or could get a pullback towards the former downtrend-line which by then should correspond with the rising 200MA. That would give you another chance to buy into a dip around 1,250 USD.
But of course its not sure. Gold could first run towards 1,370 USD too as the 6-year downtrend-line has been such a depressing factor that is now history! A pullback from those levels would end certainly higher than 1,250 USD.. probably 1,280/1,290 USD... but that´s all hypothetic for now.
JUST LET YOUR WINNINGS RUN
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