Analysis
GOLD
is still in an uptrend and the current pull back is a turning into a good opportunity to buy especially with all the volatility in the markets. We should look to buy cheap in the Red Zone and hold until in the Green Zone. When we make good headway in the Green Zone we can sell for profit. This is not for day traders. Red to Green is likely to take 6-8 weeks.
Entry: Buy when the RSI gets close to the 30% mark as the previous circled examples show.
Target Price: 1390 = Exit
GOLD
is still in an uptrend and the current pull back is a turning into a good opportunity to buy especially with all the volatility in the markets. We should look to buy cheap in the Red Zone and hold until in the Green Zone. When we make good headway in the Green Zone we can sell for profit. This is not for day traders. Red to Green is likely to take 6-8 weeks. Entry: Buy when the RSI gets close to the 30% mark as the previous circled examples show.
Target Price: 1390 = Exit