Gold broke 1190/95, 1170 is next!
I wrote in my gold analysis from March 04., that I don’t see the reason for gold to move up and here we are two days latter, 1175 for now. After strong NFP numbers gold tumbled from 1199, trying to catch next bears target at 1167/72, the previous support from December and January. Could that level hold this strong decline today? Possible, but I wouldn’t search for long, not today.
Mario, how do you see gold long term, based on possible FED rate hikes.
I can tell what I see technicaly and I wrote about that here at March 01. It all depend on the possibility of the rate hikes and when they will hike, in June or at the end of the year if so? If they hike rates soon, 1000 is possible here, but fe months is a long term for me. 🙂 Here is the article with gold monthly analysis. http://fx24seven.com/2015/03/01/gold-win-80-in-january-lose-70-in-february/
Thanks, this monthly chart is what I was looking for, great. 😉
LikeLiked by 1 person