collected by :Irax John
Gold markets initially bullet higher during the day on Thursday, reaching towards the $1290 standerd again.
Because of this, I think there is a certain amount of downward probability to the market.
Having told that, I would not put a big position on, because the volatility remains so extreme at times.
The markets will be a little thinner than usual, because of the holiday season as well, only adding to the issues.
Gold Price Predictions Video 18.7.17
Today’s rally was strong sufficient to take out final week’s high however the move stopped short of a pair of main tops.
Technical AnalysisThe main trend is up according to the every day swing chart.
If the upside momentum continues then look for the rally to extend into the following two main tops at $1305.50 and $1307.00.
ForecastBased on the current value at $1301.70, the upside momentum is likely to still as long as gold stays above the steep uptrending angle at $1296.70.
If today’s rally creates sufficient upside momentum to clear $1307.00 then watch for a possible acceleration to the upside.
Gold Price Futures (GC) Specialized Analysis – August 16, 2017 prediction
December Comex Gold futures are trading lower shortly before the regular session opening.
Daily December Comex Gold MoreTechnical Analysis The main trend is up according to the every day swing chart.
Forecast Based on the current value at $1276.00, the direction of the market is being controlled by two levels, $1277.60 and $1272.80.
The latter is the final possibility resistance angle before the $1298.10 main top.
Basically, look for a bullish tone on a move over $1277.60 and a bearish tone on a move under $1272.80.