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22.06.18, 05:38 Uhr (GMT)

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Gold Struggling, 1400 USD Is The Key Price Point To Watch

Our readers know meantime how we remain focused on price analysis, aka chart analysis. We do not believe that technical indicators add a lot of value in reading charts. A limited set of technical indicators could be useful, but our focus is on price points, which, combined, create chart structures. As with everything in life, 20% of price points account for 80% of relevancy, and vice versa. In other words, do not keep refreshing your charts every minute, but focus on the limited number of price points which have a higher importance. When it comes to gold, by far the most important price point is 1400 USD. As seen on the chart, it represents a secular resistance line, i.e. the one representing gold’s bear market which started in September of 2011 and which connects the peaks since then.

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