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Friday, 1 July 2016
Gold Technical Analysis Update: 1 July 2016, Friday, 10.28am Singapore Time
Gold Technical Analysis Update:
1 July 2016, Friday, 10.28am Singapore Time
Gold has further built up a layer of break-out protected zone where hot monies worldwide protect their breakout profits using this layer ($1200-$1300 band) as highlighted in the technical chart above. This layer of camping will be used as support to launch further rallies for attacking up. Any temporary dip in Gold to the protected zone of $1200-$1300 is the final chance to buy before more rallies in Gold keeps coming. I am adding some more Gold for investment today. Gold is expected to rally for the rest of 2016 and 2017.
Gold and Gold ETFs (SPDR GLD) Technical Rating:
Bullish Expected to rally for the rest of 2016 and 2017.