Since our update last week, the Gold Composite Future has moved within the range indicated (895-935 $ an ounce). The red trend line together with the support at 895 $ have firmly supported the future, that is now trading trough new highs. We expect it to break the historic high at 936.85 $ an ounce.

Hold the position opened at 895 $.

First Resistance set at 937 $.

Last week, in this article, we analyzed the Gold Composite Future. After braking the resistance at 937 it found more space and hit a new record high at 954.05. It is now consolidating in area 935$, where the resistance is now supporting the future- We believe it still has space for its run and we expect it to trade higher hitting a new high.

Support 1: 935

Support 2: 920

Resistance: 954