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...


No areas of expertise

spot gold ASX:NCM


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