Gold has completed a small bull triangle for a resumption of its core uptrend, although poor momentum and consensus positioning lends a note of caution. Big picture though, analysts at Credit Suisse maintain a long-held view from June last year for an eventual move to a new record high above $1921. Key quotes “Gold has completed a small bullish ‘triangle’ continuation pattern above the $1747 high and although we have concerns with respect to momentum and consensus positioning, we look for the bull trend to resume for a test of $1796/1803 next. We look for this to then cap for a fresh consolidation phase.” “Big picture, we continue to eventually look for new highs above $1921, with resistance then seen next at $2000, then $2075/80.” “Support at $1660 needs to hold to keep the immediate risk higher.” FX Street FX Street FXStreet is the leading independent portal dedicated to the Foreign Exchange (Forex) market. It was launched in 2000 and the portal has always been proud of their unyielding commitment to provide objective and unbiased information, to enable their users to take better and more confident decisions. View All Post By FX Street FXStreet News share Read Next US Initial Jobless Claims Preview: Dollar unlikely to be moved FX Street 2 years Gold has completed a small bull triangle for a resumption of its core uptrend, although poor momentum and consensus positioning lends a note of caution. Big picture though, analysts at Credit Suisse maintain a long-held view from June last year for an eventual move to a new record high above $1921. Key quotes “Gold has completed a small bullish ‘triangle’ continuation pattern above the $1747 high and although we have concerns with respect to momentum and consensus positioning, we look for the bull trend to resume for a test of $1796/1803 next. We look for this to then cap for… Regulated Forex Brokers All Brokers Sponsored Brokers Broker Benefits Min Deposit Score Visit Broker 1 $100T&Cs Apply 0% Commission and No stamp DutyRegulated by US,UK & International StockCopy Successfull Traders 9.8 Visit Site FreeBets Reviews$100Your capital is at risk. 2 T&Cs Apply 9.8 Visit Site FreeBets Reviews$100Your capital is at risk. 3 Recommended Broker $100T&Cs Apply No deposit or withdrawal feesTrade major forex pairs such as EUR/USD with leverage up to 30:1 and tight spreads of 0.9 pips Low $100 minimum deposit to open a trading account 9 Visit Site FreeBets ReviewsYour capital is at risk. 4 T&Cs Apply Visit Site FreeBets ReviewsYour capital is at risk. 5 Recommended Broker $0T&Cs Apply Trade gold, silver, and platinum directly against major currenciesUp to 1:500 leverage for forex trading24/5 customer service by phone and email 9 Visit Site FreeBets ReviewsYour capital is at risk.
