June Gold Futures Trading Chart
I provided several research updates while I was bullish gold futures.
I turned bearish on Gold futures after they hit our target of 1790. You can read that post here.
Gold has now pulled back below 1700 and reversed higher, triggering an ellipse buy signal. I think professional disciplined traders could take another long trade here with a tight stop and realistic targets.
Eventually, I think Gold will take out 1790… whether its a rally from the recent lows or from a lower level.
The author may have position in mentioned securities (Gold futures) 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.
