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Gold Price Surges. Here's What To Expect Next...

January 28, 2019

Gold took wing Friday, energized by weakness in the dollar. The $23 upthrust stalled almost exactly at the 1302.90 Hidden Pivot midpoint resistance shown, validating both the bullish pattern and a 1330.40 target we’ve been using for the last week or so. (Note: These numbers differ slightly from the ones given here earlier because the pattern’s point ‘C’ low changed.) 

The 1330.40 ‘D’ pivot will become our minimum upside objective if the futures can close for two consecutive days above or trade more than $3 above it intraday. Traders please note that a pullback to the green line at 1289.10 from around 1310.00 would trip a ‘mechanical’ buy signal, stop 1275.20. Stay tuned to that chat room for further guidance on this in real time. 

If you want a closer look at Rick’s Picksclick here to sign up at the top of the home page for a free two-week trial subscription -- no credit card needed. Drop by the 24/7 chat room first — and be sure to say hello when you arrive!

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