From FX Street here:
Gold may climb to about $1,400 an ounce in the next 12 months, according to technical analysis by Chartered Market Technician Daniel Bruno, who advises banks and hedge funds.
The attached chart shows gold is trading above a trend line that starts from the metal’s low in January last year. A climb to $1,419 an ounce would equate to a 150 percent projection of bullion’s rally from January 2009 to its record in December, according to a series of numbers known as the Fibonacci sequence.
Comments:
If gold holds the $980 to $1000 level in US dollars, the bull market trend seems to remain intact in my view. I note that gold in near a record in Euros today.
Gold may climb to about $1,400 an ounce in the next 12 months, according to technical analysis by Chartered Market Technician Daniel Bruno, who advises banks and hedge funds.
The attached chart shows gold is trading above a trend line that starts from the metal’s low in January last year. A climb to $1,419 an ounce would equate to a 150 percent projection of bullion’s rally from January 2009 to its record in December, according to a series of numbers known as the Fibonacci sequence.
Comments:
If gold holds the $980 to $1000 level in US dollars, the bull market trend seems to remain intact in my view. I note that gold in near a record in Euros today.
Comments
Post a Comment