Gold continues to be interesting to people

In the last technical meeting on April 1, 2020: “Gold: The big picture fits together”, the striking support of $ 1,565 after the market adjustment was completed pointed to another wave of buying. This also happened as expected, bringing even higher quotes to $ 1,674, supporting the former resistance at $ 1,627. However, the overall picture of an inverse SKS formation and the resulting upside potential has not changed and is still valid. Now investors can eagerly wait for the formation to be activated.

 

In an orderly fashion

The gold price has gone up one floor and is now trading between $ 1,627 and $ 1,674 in an initially neutral range. Only a sustained increase over the putative neckline at around $ 1,700 should activate the inverse SKS formation and lead to a subsequent buy signal in the direction of 1,797 and possibly the record levels from 2011 at roughly $ 1,925. The Open End Turbo Long Certificate WKN VP1KHC can still be used as an investment instrument. However, should the metal unexpectedly fall below $ 1,600, investors would be charged $ 1,580. Among them, only the support at $ 1,565 should remedy the situation.