Metals On The Rise

Last time I posted an analysis for Gold and Silver I said that I was bullish looking for higher levels. My daily analysis on Gold through my partnership with InstaForex can be found here. I’ve been bullish Gold since early July when prices entered the 1220-1200$ price range. I was expecting a bounce at least towards $1,260 while there are also many chances for a move much higher. The gold price was forming a wedge pattern that I timely noted when was broken and a bullish signal was given.

#GOLD yesterday we broke out of the wedge….expecting a rally at least towards $1,260 pic.twitter.com/Yue89AA2Aj

— Alexandros Yfantis (@alexanderYf) July 12, 2017

Below you can find the charts I’m looking at where I see $1,260 as the first pause to this upward move.