GOLD : SKY IS THE LIMIT
- The market has been registering higher highs and lows since October 2023, the long-term trend is therefore bullish.
- Very recently, the market ended a flag consolidation after a strong rebound above $1992 which led prices to a new all-time high above $2150
- The appetite for the yellow metal is clearly back. Investors, disappointed by persistent monetary tightening, prefer to increase their exposure to safe havens such as precious metals.
Technically speaking, and even if a correction can take place after such an acceleration, the situation is bullish. New targets at $2188, $2243 were unlocked after the validation of the bullish flag continuation pattern.
The final objective, given by the report of the distance traveled before the correction, is above $2310.
Pierre Veyret, Technical Analyst at ActivTrades
The information provided does not constitute investment research. The material has no been prepared in accordance with the legal requirements designed to promote the independence of investment research and such is to be considered to be a marketing communication.
All information has been prepared by ActivTrades ("AT"). The information does not contain a record of AT's prices, or an offer of or solicitation for a transaction in any financial instrument. No representation or warranty is given as to the accuracy or completeness of this information.
Any material provided does not have regard to the specific investment objective and financial situation of any person who may receive it. Past performance is not reliable indicator of future performance. AT provides an execution-only service. Consequently, any person acing on the information provided does so at their own risk.
- Very recently, the market ended a flag consolidation after a strong rebound above $1992 which led prices to a new all-time high above $2150
- The appetite for the yellow metal is clearly back. Investors, disappointed by persistent monetary tightening, prefer to increase their exposure to safe havens such as precious metals.
Technically speaking, and even if a correction can take place after such an acceleration, the situation is bullish. New targets at $2188, $2243 were unlocked after the validation of the bullish flag continuation pattern.
The final objective, given by the report of the distance traveled before the correction, is above $2310.
Pierre Veyret, Technical Analyst at ActivTrades
The information provided does not constitute investment research. The material has no been prepared in accordance with the legal requirements designed to promote the independence of investment research and such is to be considered to be a marketing communication.
All information has been prepared by ActivTrades ("AT"). The information does not contain a record of AT's prices, or an offer of or solicitation for a transaction in any financial instrument. No representation or warranty is given as to the accuracy or completeness of this information.
Any material provided does not have regard to the specific investment objective and financial situation of any person who may receive it. Past performance is not reliable indicator of future performance. AT provides an execution-only service. Consequently, any person acing on the information provided does so at their own risk.
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