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Gold Prices May Break to Fresh Highs

Gold Prices May Break to Fresh Highs

David Rodriguez, Head of Product
Gold Prices May Break to Fresh Highs

Why and how do we use the SSI in trading? View our video and download the free indicator here

Gold– Retail traders have most recently sold into Gold price strength, and a contrarian view of crowd sentiment points to further gains. We nonetheless highlighted the key difficulty last week: retail traders will often outperform in choppy and range-bound trading conditions.

All else equal, we believe that a move above $1250 seems likely. Yet we would need to see a marked shift in volatility to call for a larger break higher.

See next currency section: DAX - German DAX May Stick to Tight Trading Range

--- Written by David Rodriguez, Quantitative Strategist for DailyFX.com

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Contact David via Twitter at http://www.twitter.com/DRodriguezFX

DailyFX provides forex news and technical analysis on the trends that influence the global currency markets.

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