Gold Futures Chart (August) Price Analysis
We are rolling over our position to the August gold futures as it is now the most active contract.
Gold is attempting to breakout over the recent downtrend line after triggering an ellipse buy at the low.
We would be adding here.
Positions will need to be managed from here but, should the bulls keep up the buying pressure, we have a MFU-4 price target of 1860.
These setups are ideas for active investors and always require a stop.
The author may have position in mentioned securities 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.