Technicals - spot gold price - technical BUY signal target located at US$1288

Angela Mangan

The spot gold price originally generated a technical sell signal at US$1321 on 25/8/16. The gold price 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 as detailed in my previous Wire. The more recent rally has resulted in a New York close above the US$1250 resistance level occurring, which was the requirement to generate a new technical buy signal. The next upward phase is underway (from a technical perspective).

The minimum upside technical price target is located at US$1288 - the minimum expectation for a rally.


Angela Mangan

Angela has 30 years experience in the technical analysis field. Angela joined QMG as a technical analyst in May 2014. Angela was the technical analyst at Bell Potter for 16 years, providing technical analysis coverage to the retail and wholesale...

Expertise

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spot gold ASX:NCM

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