Ricks Picks header image

GCQ20 – August Gold (Last:1943.10)


August Gold’s leap Monday night missed a longstanding target at 1992.40 by $18, which ordinarily would warrant a cautious stance for at least a few days. In this case, however, the recovery following an overnight sell-off has been so quick and effortless that a lasting push above $2000 seems all but assured. The modest, 2006.20 target shown in the chart is one of several I could have displayed, but it will suffice for now as a minimum upside objective.  I’ll haul out some bigger charts with more  ambitious targets once gold looks like it has found solid footing above $2000. ______ UPDATE (Jul 30, 2:35 p.m. ET): Today’s snoozefest did not alter the bullish picture for the near-to-intermediate term.

Please do not ask trading questions!

Do you want up-to-the-minute technical analysis and forecasts for your favorite stocks, commodities, ETFs? Join our Take Request Session on June 15th!

No, I'm not Interested

Free Butterfly Spread Video Training

Discover an ultra-easy trading strategy that delivers darn-near-zero risk in this free 1 hour video training.

The Story You Haven’t Heard About the GameStop Saga...

Join Us Thursday, Feb 11th @ 12ET For a Live TELL-ALL Webinar

No, I'm not Interested