If the breakout holds Gold 2200 within a few months

Having fulfilled its retracement and tested previous levels Gold needed to then break free from its downward channel to show us the bull run is still on. We have now had that breakout candle. If this hold then I expect a retest of the previous high and a subsequent break of this after which momentum should take Gold up to 2200 region for a 2-3 month target.

-Michael (Las Investing)

Commentaire:

As I said in my original idea, the candle was bullish but it had to hold, until I saw the retest hold I was still waiting. It turns out my retest line was exactly were it did retest and it DID NOT hold. This is now bearing in the short term and we could be range bound or testing lower supports in the coming weeks. I will make a new post regarding this soon.