Gold Market Wire
News, analysis and commentary for gold traders and investors
Gold Market Update
July 26, 2023 - (Gold Market Wire) - Gold is looking to galvanise itself for a run at the horizontal resistance line, as we continue to consolidate.
No doubt about where that resistance is...just above $1975; c. 1977.00. We can see how many times this level has been in play. This has been the point where we made the run for the all-time high in May. If we can get a weekly close above it, we will be in solid shape to take on the all-time high again. The market looks ready to charge again at the target. Once through, there is a chance to run strongly at the all-time high. Watch for the break-out, and how solid the move is through resistance. We have failed many times at this level over the past two months.
Gripping Stuff, indeed.