Gold Futures Trading Price Targets – August 5 Chart Image
Gold (NYSEARCA: GLD) is approaching our MFU-4 (money flows) price target of $1482.
We think active investors (traders) should be trimming long exposure.
When price reaches an MFU-4 target area, it’s very prudent to trim… and in some cases, sell an entire position.
Given the trade wars and investors flight to safety, we are only trimming long exposure and will wait for either a negative Money Flow Unit (MFU) to develop, or for an extended leg higher to signal.
We have been long gold for several months, providing updates here and to our clients throughout the year.
Below is a chart that we shared back in early July:
The author may have positions 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.