Gold - technical buy signal generated
The spot gold price previously generated a technical buy signal @US$1235 on 9/1/15 and subsequently reached the minimum upside technical target located @ US$1290 on 21/1/15, completing the technical trade. As a result of the recent price action, a new upward reversal / upside break above key resistance has occurred, thereby generating a new technical buy signal. The potential now exists for a further significant rally to occur in the gold price from current levels.
Angela has over 30 years experience in the technical analysis field. She provides technical analysis coverage of major Australian and global stocks / key markets, including provision of a bespoke technical service to wholesale clients.