Trend following Gold update

gold trend continues

This is pure trend following. After a major breakout, we are next looking at Gold (GC) S/R (Support and Resistance Price Reversals) to indicate a continuation of the Bull run. Gold, on a long term basis, has been outperforming the S&P 500 Index since early May.

So next, have two S/Rs to look at. One is a relatively minor Weekly S/R, and, then a Major Monthly S/R. These two levels are $1,434 and %1,529.

1: Stock Chart of the gold S/R at $1,434:

image

2: Stock chart of the gold S/R at $1.528:

image

Author: Trendanomics

Trend following the markets with simple trend following strategies.

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