THE GOLD BULL TRADE IS BACK
It’s official… Gold is back in “bull mode.”[ad#Google Adsense 336×280-IA]Gold has spent much of the past several months waffling back and forth in a relatively tight trading range – storing up energy for its next big move.
After last week’s explosive 3% rally, that next move is higher…
Gold has broken out to the upside of its consolidating-triangle pattern.
The metal should now be on its way to new all-time highs within the next several months.
It’s a little overbought right here in the short term, and it’s due for a bit of a pullback. But with gold in “bull mode,” any pullbacks are buying opportunities.
– Jeff Clark
Source: Market Notes