This morning we point out to a very interesting pattern on medium term gold.
Gold has drawn in the past days a so called “rising flag”: usually is a bullish pattern.
The target on the upside is given by the pennant of the flag projected upwards at the breaking of resistance. The target is therefore 2040 (previous top of gold a couple of years ago).
The resistance is on a closing basis 1942 dollars.
Support is 1920.