GOLD Challenges 50-Day Moving Average On Ascent to 1284

Our YouTube video illustrates Gold's continued price appreciation and identifies key upside price objectives. In recent YouTube videos and posts, we have detailed Gold's technical momentum higher.


Looking at the Daily chart below, we can see our 1284 upside price objective, relating to an extension retracement area based on the 15 October Daily Low. We can see how recent Lows have been around key extension retracement areas, indicating upside price momentum. We also see how Gold is currently challenging the 50-day Moving Average.

Looking at the Weekly chart below, we can see that this week's Low and last week's Low have been above key technical retracement areas, related to the range from early July through early October and the absolute 2014 intrayear range. We also see Gold trading above the 1244.85 level, the 38.2% retracement of the range from July through October.

Downside price objectives include 1253.07, 1260.30, and 1284.20.


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