You know I’ve been monitoring gold (XAUUSD), I was waiting for it to break the ST resistance level around 1681.51 and guess what? It just broke that resistance level. This means that as long as gold stays trading above this level, it is likely to continue its way up, in short: gold will go up:

How far up could it go?

I’m a firm believer that it will reach new historical highs, but I don’t trade based on what I think or what I believe. It has a strong resistance level around 1910.77, so all TP orders should be set just below that level.

I’ll keep you posted.

Trade Safe!

Raul Lopez
Forex Training