Friday, April 13, 2018

Gold prices appear ready move up even further as technicals showing higher highs and higher lows

One of the most bullish signals on technical charts for a given asset, security, or commodity is when price movements result in both higher highs, and higher lows.

And for gold this signal is right occurring as its price floor has moved up from $1310 to $1320 in just a few weeks, and on three occasions so far this year it has nearly broken through the strong resistance level of $1355.

As both economic and geo-political events, and central bank tightening policies continue to put pressure on global currencies as well as market liquidity, all these factors bode strongly for gold to move higher in the coming weeks and month.


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