Gold

Food4thought,

I notice your Brent and ftse100 charts, thanks

What are your thoughts on gold?

I did a chart based on closing prices and believe it has broken out?

I'm way too much of a novice to post a chart, but if you look at the weekly you can see where gold may stop (short term) and retrace a little.

You'll see the MA50 and a line of oblique minor resistance meeting around 1181-1182 this week. I would expect price to overshoot to maybe 1187 and then retrace. The 100% fib from the recent low of 1098 is also at 1189 so a few hurdles at the same point.

Assuming it does, what fib retracement percent should we expect (on gold) from a 1185-1190 short term top?

Hope this helps and would love some feedback as I'm still learning!

This is from IG

i make a 1,2, 3 low @ 1167??
My chart is not the best tbh...maybe someone can confirm that number??
Looks ok to mo, so i'm long with tight stop...

Trendfriend.

Looks like gold is breaking out today.

It needs a close above 1144 on the weekly.



close up

Looks like gold is breaking out today.

It needs a close above 158.