The price of gold has stair-stepped its way higher over the past 10 weeks. Global uncertainty and a US Dollar pullback have been tailwinds.
Gold futures closed above our MFU-2 level ($1850), which is positive, and is now at the upper end of the MOB band price target zone.
This could prove to be minor resistance so we should pay attention here.
Further strength from here would confirm the bullish trend and put our MFU-3 target on the radar ($1960).
Gold Futures Chart
Twitter: @GuyCerundolo
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