August Gold spent the week consolidating just above the green line, where a theoretical buy signal triggered the previous week. We should assume minimum upside to p=2028.30, a not very ambitious target but one that would nonetheless fix $2000 in traders minds as support. That’s assuming the futures can close for at least two consecutive weeks above the midpoint Hidden Pivot (p). They should be trade with a bullish bias in the meantime, using ‘reverse-pattern’ triggers drawn from the lesser charts. Stay tuned to the chat room and email ‘Notifications’ if you trade this vehicle.
GCQ23 – August Gold (Last:1966.60)