Technicals Support Gold’s Rise, US$2,000 is Next Resistance

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Published : July 28th, 2020
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Category : Market Analysis

The gold price has been on a tear for the last week or so, rising from around US$1,800 per ounce to above US$1,970. 

The yellow metal’s swift increase has taken it through the crucial US$1,900 level and past its previous all-time high of around US$1,920, set in 2011. 

But is gold’s ascent sustainable from a technical standpoint? According to Chris Vermeulen, chief market strategist at TheTechnicalTraders.com, the answer is “yes,” and there are more gains in store for the precious metal.

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Chris Vermeulen has been involved in the markets since 1997 and is the founder of Technical Traders Ltd. He is an internationally recognized technical analyst, trader, and author of the book: 7 Steps to Win With Logic Through years of research, trading and helping individual traders around the world. He learned that many traders have great trading ideas, but they lack one thing, they struggle to execute trades in a systematic way for consistent results. Chris helps educate traders with a three-hour video course that can change your trading results for the better. His mission is to help his clients boost their trading performance while reducing market exposure and portfolio volatility. He has also been on the cover of AmalgaTrader Magazine, and featured in Futures Magazine, Gold-Eagle, Safe Haven,The Street, Kitco, Financial Sense, Dick Davis Investment Digest and dozens of other financial websites.
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