Last year massive breakout started in second half of July-at the same time and at same price level.
Yesterday golden cross 3M and 6M moving averages was formed(they had same value).
Last few years gold price was rising by 500 a year- for this year 2400 seems obtainable(2100 for summer)
Long period RSI gives long-term trends and it can rise much more then current level given enough time. For 6M chart strong RSI level is being pierced.
Current price is near extended line form yearly line diagram dating to 1986 (2px black dashed line).
Volume bought on this zigzag leg so far is small compared to other legs this year and it will probably rise much more.
I think there is a room for one small pullback this week and next 2 weeks will be very bullish.
Yesterday golden cross 3M and 6M moving averages was formed(they had same value).
Last few years gold price was rising by 500 a year- for this year 2400 seems obtainable(2100 for summer)
Long period RSI gives long-term trends and it can rise much more then current level given enough time. For 6M chart strong RSI level is being pierced.
Current price is near extended line form yearly line diagram dating to 1986 (2px black dashed line).
Volume bought on this zigzag leg so far is small compared to other legs this year and it will probably rise much more.
I think there is a room for one small pullback this week and next 2 weeks will be very bullish.