Gold has hit my first target at $1,110 a couple of days ago.
I have been swamped with emails from traders asking what I think gold will do next.
Well let me dust off my crystal ball… ahem…
The main trend continues to be positive. A trend will continue until it ends. On sideways days, assume continuation of the previous trend.
Any pullback in gold should be met with good support. It is possible that we could see a pullback of $20-$25 which would not change the overall positive trend of the market which we see continuing until the end of the year.
If you follow me on Twitter then you know my end of the year target is $1,200 to $1,300 an ounce for gold.
While this target zone is still in place, I think that the huge “energy field” I discussed in an earlier video, is capable of pushing gold even higher than $1,300.
In this new video I explain some of the areas that I’m looking at and also some of the places where you can place tight stops to lock in profits.
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