Gold Price Reversal Creates Another Short-Term Trading Opportunity

Guy Cerundolo
august gold futures reversal rally bullish chart june 4 investing news image

August Gold Futures Chart & Analysis

My position on Gold futures was stopped out this morning as price broke below the trend channel line.

But it didn’t take long for another bullish trading opportunity to emerge.

Gold prices quickly reversed higher and created an ellipse buy signal.

I am once again long Gold futures with a tight stop just below the recent low. I have been eyeing $1860 as a potential price target.

See comments on the chart.

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.