TAG: brucegold
Gold Price Forecast: Consolidates Near Record High, Eyes Bullish Breakout
Gold found resistance at a new high of 2,477 for the advance on Tuesday. Resistance was seen around the top boundary line resistance of a developing symmetrical triangle formation that was established following the 2,459-swing low reached last week. The s...
2 months ago
Gold Price Forecast: Retreats from 2,480 and Falls Back into Consolidation
Gold tried to breakout higher earlier in Wednesday’s trading session but quickly encountered resistance at 2,480. The recent record high last month was 2,484. Given today’s bearish reaction following a rise above the previous trend high of 2,477 from yest...
2 months ago
Gold Price Forecast: Failed Breakout Signals Possible Extended Consolidation
Gold ended Wednesday with a bearish reversal day following a rally to 2,480. Selling pressure then led to a pullback and a weak close in the lower half of the day’s trading range. The pullback continued today, Thursday, with a new lower daily low of 2,432...
2 months ago
Gold Price Forecast: New Highs and Future Projections
Gold broke out to a new record high on Friday following a failed attempt on Wednesday. Momentum was strong and remains so as trading continues near the highs of the day at the time of this writing. It has traded as high as 2,506 and will likely close stro...
1 month ago
Gold Price Forecast: New Record High, Targets Further Gains
Gold reached a new record high of 2,532 on Tuesday before pulling back intraday. A close above the halfway point of the day’s range at 2,514 today should be a stronger indication than a daily close below it. Gold is bullish on the daily chart and higher t...
1 month ago
Gold Price Forecast: Tests Key Support at Top of Symmetrical Triangle
Gold pulled back to a low of 2,471 on Thursday before finding support and bouncing intraday. The decline successfully tested support at the top boundary line of the symmetrical triangle pattern as price was rejected to the upside. A bullish breakout of th...
1 month ago
Gold Price Forecast: Nears New Record Highs as Bullish Momentum Builds
Gold is on track to end Friday with a higher daily high and higher low as a breakout above Thursday’s high of 2,515 was triggered. The high today was 2,518 but it is not yet clear whether gold will end the day above that price level. Nevertheless, it cont...
1 month ago
Gold Price Forecast: Poised for Upside Continuation
Gold continued to hover above support on Tuesday represented by the top trendline (blue) that covers the recent consolidation phase. Today’s low of 2,504 successfully tested the line again and it was followed by a bounce. That is a sign of strength in a d...
1 month ago
Gold Price Forecast: Holds Above Key Support, Poised for Potential Upside Breakout
Gold continues to consolidate near recent record highs on Wednesday, as it awaits an improvement in demand that can take it higher. The recent record high of 2,532 is the key price level to watch to signal an upside breakout and bull trend continuation. G...
1 month ago
Gold Price Forecast: Eyes Breakout as It Retains Key Support Levels
Gold continues to show strength as it retains key near-term support levels on Thursday and attempts to rally above yesterday’s high of 2,528.93. At the time of this writing, gold is traded inside Wednesday’s price range with a high of 2,528.66 and a low o...
1 month ago
Gold Price Forecast: Poised for Pullback Before Potential Bullish Breakout
This week is set to complete an inside week for gold. Friday was the third day in a row of lower highs and gold is on track to end the day in a weak short-term position, below yesterday’s low and it is set to close in the lower quarter of the day’s range....
1 month ago
Gold Price Forecast: Remains in Tight Consolidation as Uncertainty Reigns
Gold pulled back further from the recent record high of 2,532 on Tuesday to reach a low of 2,473 before support was seen. It retains a bullish outlook as it remains above the three-week low of 2,471 and above the top boundary line of a symmetrical triangl...
1 month ago
Gold Price Forecast: Awaits Breakout from Tight Consolidation
Both today, Wednesday, and yesterday, gold tested support around the top of a symmetrical triangle consolidation pattern. Each time the price of gold was rejected to the upside as support held. Gold is on track to close in a relatively strong position, in...
1 month ago
Gold Price Forecast: Poised for Bullish Continuation Above $2,532
Gold triggered a bullish reversal on Thursday as it rallied above Wednesday’s high to reach a four-day high of 2,523. This follows a successful test of support around the top of a symmetrical triangle consolidation pattern the prior two days. Nonetheless,...
1 month ago