Yesterday, Gold broke out of the channel which it has been following since early August. The break out was produced by a massive candle of more than +2.3% in a day, which is rare for Gold.
Considering the prior, I see the commodity gaining more strength in the coming days, potentially rivaling the all-time-high in the near future.
I've marked two areas of resistance on the chart where I expect a lot of bearish pressure, although I'm quite sure Resistance 1 won't be any issue.
Considering the prior, I see the commodity gaining more strength in the coming days, potentially rivaling the all-time-high in the near future.
I've marked two areas of resistance on the chart where I expect a lot of bearish pressure, although I'm quite sure Resistance 1 won't be any issue.
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