Technicals - gold price technical buy signal target @ US$1288 reached
The spot gold price originally generated a technical sell signal at US$1321 on 25/8/16. It subsequently generated a re-entry technical buy signal at US$1216 on 2/2/17. The nominated upside technical price target located at US$1262 was reached on 27/2/17.
The 27/3/17 New York close above the US$1250 resistance barrier generated a new technical buy signal as detailed in recent Wire (VIEW LINK). The minimum nominated upside technical price target located at US$1288 was reached on 13/4/17.
The gold price technicals remain positive given there is no sign of a technical top formation emerging.
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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.