Gold Futures Trading Chart
I am still bullish on December Gold Futures.
Gold is trading above its up-trend line and just above the descending trend line of its recent triangle pullback.
Momentum is attempting to turn higher here from what our oscillator rates as a normal pullback.
Long traders would be wise to set stops at $1900 to minimize risk. Gold is currently trading around $1940. We will need to see another buying thrust higher to confirm a bullish stance.
A move higher would likely target between $2130 and $2150.
The author may have a position 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.
