Gold Futures Reverse Higher Off Key Price Support

august gold futures trading reversal higher update price chart news analysis image

August Gold Futures Trading Chart

As I pointed out yesterday, we are long Gold futures off the latest test of make-or-break price support.

Gold is moving higher into today’s session and may finally be targeting $1860 (our MFU-4 price target).

I think stops should be raised to $1696 (see chart).

We don’t want to chase strength here but will look to add to long positions prudently.

The author has a long trading position in 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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