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

Angela Mangan

QMG Pty Ltd

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. 


1 topic

1 stock mentioned

Angela Mangan
Technical Analyst
QMG Pty Ltd

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.

Expertise

I would like to

Only to be used for sending genuine email enquiries to the Contributor. Livewire Markets Pty Ltd reserves its right to take any legal or other appropriate action in relation to misuse of this service.

Personal Information Collection Statement
Your personal information will be passed to the Contributor and/or its authorised service provider to assist the Contributor to contact you about your investment enquiry. They are required not to use your information for any other purpose. Our privacy policy explains how we store personal information and how you may access, correct or complain about the handling of personal information.