Gold Price Reversal Triggers Buy Signal

Guy Cerundolo

Gold Futures Price Forecast Chart

The recent pullback in gold futures held at trend line support and reversed higher.

This created an “ellipse” reversal, triggering our turning point indicator and “buy” signal on Gold futures and the Gold ETF (NYSEARCA: GLD).

We are bullish on Gold and expect a rally to take out the recent high.

Our near-term MFU-4 (money flow) price target is $1482.

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.

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