Gold has continued to hold onto its gains overnight and is currently trading around 1690. Our initial target of 1694 was hit and the next targets are 1703 and 1708.
A strong showing today will give a bullish weekly candlestick and set the market up nicely for further gains next week. The 200 DMA is getting further away below the market and the 20 DMA has now turned back upwards which is a bullish sign.
The daily RSI shows ample further room to move higher and the MACD remains supportive to further gains.
Today's video looks at yesterday's price action in more detail and our target s for this rally.