The monthly graph shows a breakout above resistance on a close-only basis. The prior resistance is now support. A near
The monthly cycle hit a low at the end of the last month. The technical picture is constructive. There are higher lows in momentum weekly and a very oversold condition. This projects $2300 over the coming months, likely by June-August.
The last chart is a picture of caution; this is a favorable sentiment indication. The rally has not created excess optimism
Monthly Gold-Closing Prices
Monthly Gold Cycle