When will gold go up?

I’m going to tell you the truth, I don’t know… in fact, no one knows for sure! But (there is always a “but”) I can tell you a few things that will give you so insight about when it is likely to resume its upward movement.

Right now, gold (XAUUSD) is trading pretty close to an important long term level (around 1553.33). Before I start looking for trade opportunities, I need to make sure gold is rejected from the important support level that I’m talking about. When will this happen? When it breaks the resistance level of the short term range, only then I will feel more comfortable looking for long opportunities:

So once it breaks the green short term resistance level, I’ll start looking for long opportunities.

Trade Safe!

Raul Lopez
Forex Course


Tags: ,

Raul Lopez

I've been trading the markets for more than 12 years. All my trades are based on price action. Check out my Coaching program, I can help you develop a system that helps you trade with better results.