A weekly close above 1366 would confirm a long-term target for Gold of 1694, according to Andy Dodd, Head of Technical Research at Louis Capital Markets.
Dodd has been bullish on Gold since its break above its downtrend last August (see Weekly Chart). He says the upper side of that failed downtrend has been acting as support, having already limited the extent of the pullback at the end of 2017.
Dodd now says a break above 1366 would confirm a longer-term bullish reversal pattern (Inverse Head and Shoulders) with a measured target of 1694.
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