$GOLD Breaking Out - Chaikin Analytics

$GOLD Breaking Out

We’ve been pointing out for several weeks the gold chart below, where we had two levels of resistance, a confluence of levels, that if breached could lend itself to higher highs. I’ve located several areas of resistance that have been surpassed as the metal moves to the next levels. $1800 and $1850 were the first two areas, which now will become support, $1900 was the next level which gold managed to get above as well. Last week I noted, “The next areas are $1920 and $1960.” This has played out and the weekly RSI is only at 58.78. It could move lower, but it does have good momentum at the moment. If this can continue to $1960 and then $2000 which will light up the headlines at all levels of media.   

 

This is a preview of Morning Insights.

Subscribe to Chaikin Analytics to get full access to this investing newsletter, and so much more.

Share on facebook
Share on twitter
Share on linkedin
Scroll to Top