How high can gold rally? To $1,270 – $1,290. That’s what we wrote on December 14. Stockcharts’ intraday high for yesterday’s session is $1,271.40, which means that our target area has already been reached. However, gold will remain in the target area even if the rally continues for another $20 or so. Which scenario is likely to play out and when is it likely to play out? Gold’s chart provides answers, so let’s start today’s analysis by taking a closer look at it (charts courtesy of ***
The price of gold has been moving steadily higher in the past several days and it moved to the lower border of our target area.
This post was published at GoldSeek on Thursday, 21 December 2017.