Commodity Trade Mantra

Posts Tagged ‘Golden Cross’

Citi: Is This The Breakout Week For Gold?

Citi’s FX Technicals group notes gold has traded above very strong resistance on the $1,350 to $1,362 range suggesting a test up to $1,434 and the next level at the 200-week moving average at $1,493. Gold is also getting close to the “golden cross” where the 50DMA will cross above the 200DMA.

Gold Price Prediction Based On Technical Analysis And China Demand

The average bull market in Gold lasted 434 days with gains of 94.89%. Projecting this historical average to the upcoming bull market, one might see gold top $2,315/oz by mid-2016. Nevertheless, the wild card China Factor may well fuel the price of gold in the next few years much above $2,315.

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