Gold Price - Update


Gold has reached out target price of 1300 after breaking out accumulation since we posted the forecast on 19 Oct 2018.

There is no distribution characteristics observed such as climactic selling (SC) or Upthrust Failure (UT). Thus, we have technical reasons to believed that price is currently in re-accumulation zone.

A breakout (Sign of Strength) from the 1300 level will see Gold price trade towards next resistance at 1350.