Gold price continued higher last night towards $1,280. Gold price remains in uptrend and supported by the Ichimoku cloud. Gold price might make a small pull back but as long as it trades above $1,266, I expect it to continue higher towards $1,310 at least.
The downward correction from $1,286 to $1,258 is complete and I expect an upward move similar to the first upward leg from $1,240 to $1,286. That is why I have $1,310 as a target. This does not mean that it cannot go higher. My longer-term triangle target is above $1,320-30 near $1,340.
I believe that wave D has many possibilities that it has been complete at $1,240. Gold price is strong enough to at least approach the $1,300 level where the Ichimoku cloud resistance is found. So my plan is that we remain long as long as price is above $1,266, targeting $1,300-$1,330 and then we look for selling opportunity down to $1,000.
