Ashraf Laidi maintains that gold is probably headed higher in the short run.
Gold's uptrend was bolstered by its ability to hold above the bottom of the 4-month channel of $880, its ability to limit periodic declines to no more than 10-11%, as well as holding above its 50-day MA. These technical criteria were first brought up on March 6. Having passed all these tests, I reiterate the near term target of $1,050.
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