Gold continued to move higher yesterday in follow through buying from Wednesday. Yesterday's high was 1622 and the market has held most of the gains overnight and is moving higher this morning.
The market appears to be adjusting to a "buy the dips" mentality from the "sell the rallies" mindset of the past few months.
It is still very early days in this rally but we expect to see much higher prices, particularly if the market can manage to break out of the large triangle correction from September 2011 (currently the upper boundary is at 1680).
Today's video looks at resistance levels and potential targets for the rally, as well as looking at how a breakout from a triangle often pans out.
The market appears to be adjusting to a "buy the dips" mentality from the "sell the rallies" mindset of the past few months.
It is still very early days in this rally but we expect to see much higher prices, particularly if the market can manage to break out of the large triangle correction from September 2011 (currently the upper boundary is at 1680).
Today's video looks at resistance levels and potential targets for the rally, as well as looking at how a breakout from a triangle often pans out.