Gold Verging On A Breakout!
Gold has made good progress this month, forming a strong bullish candle despite
being in an area of consolidation.
Price ultimately needs to break above the August 2020 all-time high at $2075,
but there is another resistance level in the way at $1920 from the September 2011 high.
This month’s candle pushed above this level, but the sellers have pushed price back below.
If February closes below $1920, then this will be a confirmed fake breakout, and as we
have one trading day to go for February, this seems likely.
Gold is an asset that requires plenty of patience, and those holding Gold long-term would
not have seen any progress in their investment since September 2011.
The main thing is that when Gold trends, it usually lasts several years and produces good
profit over time. This increases if you are compounding along the way, something which
we ensure our members are doing to maximise profit.
We will watch Gold closely and take advantage of any trends should price break above
the all-time high.
See below for more information on our trading techniques.
As always, keep it simple, keep it Sublime.
being in an area of consolidation.
Price ultimately needs to break above the August 2020 all-time high at $2075,
but there is another resistance level in the way at $1920 from the September 2011 high.
This month’s candle pushed above this level, but the sellers have pushed price back below.
If February closes below $1920, then this will be a confirmed fake breakout, and as we
have one trading day to go for February, this seems likely.
Gold is an asset that requires plenty of patience, and those holding Gold long-term would
not have seen any progress in their investment since September 2011.
The main thing is that when Gold trends, it usually lasts several years and produces good
profit over time. This increases if you are compounding along the way, something which
we ensure our members are doing to maximise profit.
We will watch Gold closely and take advantage of any trends should price break above
the all-time high.
See below for more information on our trading techniques.
As always, keep it simple, keep it Sublime.
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