Gold Futures Build Trading Momentum: Upside Price Targets

gold futures rally price targets higher 1740 chart_week of april 6

Gold Futures “daily” Trading Chart

Last week, I pointed out that a rally in the price of Gold was underway (due to a technical breakout).

Analyzing the Gold Rally: The short-term downtrend has been broken and the ensuing breakout has seen follow through buying.

As noted in my firm’s note to clients (on chart above), we are seeing momentum expand.

Our initial target for this rally is $1740, though we wouldn’t be surprised to see $1830 hit further down the road.

The author may have position in mentioned securities (Gold futures) at the time of publication. Any opinions expressed herein are solely those of the author, and do not in any way represent the views or opinions of any other person or entity.

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