Ekonomické zprávy
27.10.2021

The price of gold may rise to $1980 – DBS Bank

FXStreet reports that Benjamin Wong, Strategist at DBS Bank, discusses gold prospects.

“Gold is quietly making a bullish inverse head-and-shoulders since June – thus the nascent gold bull is quietly knocking at the door. The neckline stands around $1830, for that pattern to take off. A secondary confirmation probably requires gold to surmount and sustain over the weekly Ichimoku’ cloud fringe resistance at $1873. 

“Should the inverse head-and-shoulders pattern get validated, gold would target the upside into $1930, perhaps even $1980 (over the June highs).”

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