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Heading For A Gold Rush Or A Serious Sell-Off?

Published 01/28/2015, 12:15 AM
Updated 07/09/2023, 06:31 AM

A break and hold below 1270/60 on Gold could send it tumbling (quite hard this time) to 1150 or lower (ultimately 1000).

1314 is the near-term resistance level to overcome before running into major resistance at 1550, in my opinion, (based on my analysis of price, Fibonacci, channel, and volume profile data), as shown on the 5-Year Weekly chart below.

Gold Weekly 2010-Present

Latest comments

Hi Strawberry, What are your expectations for gold long term trade for month? Do you expect gold will reach 1314 resistance level????
Hi Strawberry, What is your expectations for gold long term trade for a month? Do you expect gold will reach to 1314 resistance level???
Hi . Which software are you using to populate this graph?
Hi, Sandeep. . I use TD Ameritrade's Think or Swim charts.. Cheers,. SB
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