short term gold trend

When was the last time that GOLD up more than 15% in a month? Maybe 2011? For someone long GOLD this is somehow too good to be true. After the crazy rally and now is getting a little uncertainty. Yesterday it hit the uptrend resistance at 1720 level (3rd try since Feb 2020) and now moving back to the average at 1680 level which is rather a safe entry level

Prediction: Bullish for short term and see if it can break the next resistance or not.

Yorum:

Breaking into the support level and the bullish trend outlined last week becomes invalid if price cannot sustained by tomorrow. If that is the case, I may suggest to take profit (or cut loss).