Gold Futures Price Chart – Bullish Analysis
On July 3 we published a research note on Gold (NYSEARCA: GLD) stating that we are buyers of gold. Our buy signal triggered on an “ellipse” price reversal.
Gold has consolidated for three weeks and is now breaking out over a short-term downtrend line.
Momentum is also turning higher. I am adding to longs.
Our initial upside price target for Gold futures is $1482.
The author may have positions in mentioned securities at the time of publication. Any opinions expressed herein are solely those of the author, and do not in any way represent the views or opinions of any other person or entity.
