Gold is waiting to test $1900 as long as above $1800 price.
Gold broke through a critical resistance area today after reports on inflation and the value of money. We've watched this zone closely because it was tested four times in summer, with no success until now.
Offers capped gold yesterday, but as fears rise about rising prices both governments want ($24 TBC) or need for survival (20 trillon$), investors are taking riskier approaches than ever before.
It's always worth watching what happens when everyone starts betting against your favorite asset class - especially since history doesn't offer us much guidance here at all.
The chart shows that today's move-up was greeted with buy-the-dip concrete action. The subsequent rise to the upside reached its highest $1868.57 today after CPI data, but it isn't over yet.
The critical level for this bullishness is located as a next target at $1876, which could signal where traders start looking toward swing highs if they break higher than currently expected prices of between 1900/1950 on these special gold prices mentioned above.
As long as the market holds above $1830/1835, it will be considered a strong buy. So, the market may correct this price. And even as long as the gold price will be able to hold its price above $1800, it won't change its uptrend.
So, soon $1900/1910 is expected upward move based on current situations.
Offers capped gold yesterday, but as fears rise about rising prices both governments want ($24 TBC) or need for survival (20 trillon$), investors are taking riskier approaches than ever before.
It's always worth watching what happens when everyone starts betting against your favorite asset class - especially since history doesn't offer us much guidance here at all.
The chart shows that today's move-up was greeted with buy-the-dip concrete action. The subsequent rise to the upside reached its highest $1868.57 today after CPI data, but it isn't over yet.
The critical level for this bullishness is located as a next target at $1876, which could signal where traders start looking toward swing highs if they break higher than currently expected prices of between 1900/1950 on these special gold prices mentioned above.
As long as the market holds above $1830/1835, it will be considered a strong buy. So, the market may correct this price. And even as long as the gold price will be able to hold its price above $1800, it won't change its uptrend.
So, soon $1900/1910 is expected upward move based on current situations.
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