Last time I posted an analysis for Gold and Silver I said that I was bullish looking for higher levels. My daily analysis on Gold through my partnership with InstaForex can be found here. I’ve been bullish Gold since early July when prices entered the 1220-1200$ price range. I was expecting a bounce at least towards $1,260 while there are also many chances for a move much higher. Gold price was forming a wedge pattern that I timely noted when was broken and a bullish signal was given.
— Alexandros Yfantis (@alexanderYf) July 12, 2017
Below you can find the charts I’m looking at where I see $1,260 as the first pause to this upward move.
I remain long Gold and Silver futures, and long some miners and XME. Thank you for taking the time to catch up on my thinking.