Gold Market Wire
News, analysis and commentary for gold traders and investors
The Technical Take
Gold Target in Sight.
April 3, 2020 (Gold Market Wire) - Gold has a target now - the intraday high of $1617.70 - which is right where our downtrend comes in. It's a decent challenge, and set's us up for length if we get a close over.
Gold's been pivoting around our old friend $1595 for a long time, and a break one way or the other is due. Over the past 8 sessions the lows have been getting higher -so its at least one plus in the direction of higher prices in the short term.
Friday's always bring out the 'best' in the markets, so the challenge is on. If we can get some consistent action over the target - a spec long will be in order, probably on the Market Close.