Welcome to KISS & Technical Set-Ups. In this section of the site we post examples of Technical SetUps as provided for members in real time on NorthmanTrader.com utilizing our KISS methodology.
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On May 21, we publicly outlined a technical bullish case for Gold:
Gold Going Bull:
Chart patterns suggest potential for a large bullish move coming in Goldhttps://t.co/71oRKUPhNq pic.twitter.com/o2S8I9eLox
— Sven Henrich (@NorthmanTrader) May 21, 2019
This was one of the charts highlighted in the source article:
Premise was that Gold would target the resistance zone and a confirmed break above would target 1520.
By June 14, Gold indeed had rallied to this resistance zone reaching over 1360 for an over $85 move in just 4 weeks confirming the original initial technical assessment:
June 26 Update:
August 8 Update: Target reached:
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Categories: Technical SetUps
Sven – Would you be open to performing technical and macro analyses on a couple of agricultural commodity or food equities of your choosing?
With African Swine Fever impacting China and record rainfall in the American midwest delaying planting and projected to cause decreased crop yields, I am wondering if such analyses might uncover opportunities on the long side in 2019 / 2020.
Sven, thanks for updating that! But does the Iranian attack on US bases in Iraq change the gold trading strategy? I would think there would be a flight to safety in investments – that is toward buying gold. Your thoughts?