Gold prices took off right from the opening this morning. Our 4080 short position missed the move completely, as gold surged past 4100 in one go, with a huge bullish candle shooting straight up!
No need to rush—the second wave is about to turn around, so let's position ourselves. Go long at the current price of 4100, targeting 4150. This change of direction is because the price has broken through resistance; a breakout means a trend reversal. I personally think a new rally is about to begin, and it's not too late to switch directions now!
The overall technical picture currently favors the bulls. The moving averages are all spreading out in a bullish formation, and the candlesticks are holding firmly above them. The bulls are set to keep surging!
So, our recommendation for the second wave: buy more if the price pulls back to 4080, with a target of 4050 and a stop at 4080! $XAUT
No need to rush—the second wave is about to turn around, so let's position ourselves. Go long at the current price of 4100, targeting 4150. This change of direction is because the price has broken through resistance; a breakout means a trend reversal. I personally think a new rally is about to begin, and it's not too late to switch directions now!
The overall technical picture currently favors the bulls. The moving averages are all spreading out in a bullish formation, and the candlesticks are holding firmly above them. The bulls are set to keep surging!
So, our recommendation for the second wave: buy more if the price pulls back to 4080, with a target of 4050 and a stop at 4080! $XAUT