GOLD Hits 8 Month Target

Our last technical update for Gold (Aug 11th, 2019) offered the monthly chart below (left) for consideration. The current view (right) shows the market holding and bouncing around between significant technicals previously identified; then breaking resistance and lifting in to a target placed 8 months out in front of the market.

We also offered a weekly perspective, with potential market moves for consideration.

The market bounces around below and respecting the channel resistance, moving over in to the weekly (blue) target, before breaking up. The lift out of the channel takes the market up to the next significant technicals and a HPTZ (High Probability Target Zone).  A quick spike down (actually several weekly bars) has the market find support at several technicals, spiking to the level of, but right beside, a weekly HPTZ.