I'm Brandon, a senior stockbroker at a local securities firm and also a professional trainer with Singapore Exchange (SGX) Academy. Holder of Chartered Market Technician (CMT) and Certified Financial Technician (CFTe) with over 10 years experience in the financial industry.
This blog aims to share how private traders can forecast price and trade in line with the market and smart money by applying Wyckoff principles and simple technical analysis techniques.
Thursday, 17 January 2019
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.