Gold Price Analysis: One More Trade Higher?

Guy Cerundolo

Gold (NYSEARCA: GLD) has been in a strong intermediate uptrend for the past several weeks.

And money flows continue to be strong / bullish.

Last week’s thrust higher saw gold futures hit our money flow MUF4 price target ($1350). Selling there was good for traders… but the selling appears to be firming up.

Looking at the chart below, Gold looks ready for one more push higher. How high depends on the price action.

A weekly close above $1350 will put our price target in play at $1370.

A close below $1320 would negate this setup.

Gold Trading Chart

gold futures trading chart bullish price target 1370

Author has 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.

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