Gold Attempting To Hurdle Above 2011 Highs

Published 07/22/2020, 10:07 AM
Updated 07/09/2023, 06:31 AM

Is gold about to hurdle above 2011 monthly closing highs and send a long-awaited bullish message? It is attempting to do so at this time.

This chart looks at gold on a monthly closing basis. The 2011 monthly closing highs took place at (1).

Monthly Gold Technicals

Gold looks to be forming a long-term bullish cup pattern, over the past 9-years. With seven trading days left in the month, gold is attempting to break above 2011 closing highs at (2).

If gold can close out the month at new all-time highs at (2), it sends a very positive price message to the bulls.

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