Gold continues to rally as expected. Our first target at the price of $1,295.00 is reached, but there is still plenty of space for the upward movement. Since the key resistance at the price of $1,295.00 is broken and there is the upward trend, I expect that Gold will reach the median Pitchfork line in the future.
R1: $1,301.50
R2: $1,303.60
R3: $1,304.75
Pivot: $1,300.00
S1: $1,298.24
S2: $1,297.00
S3: $1,295.00
Trading recommendation: We are long Gold from $1,285 and our SL is on the breakeven, but we added new smaller long position from $1,300.00 and a protective stop at $1,285.00. Our main target is $1,340.00.
