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Barry Dawes Profile picture
Barry Dawes
@DawesPoints
Helping investors profit in the resources sector Many years experience commodity and equity research bdawes@mpsecurities.com.au #gold #copper #ASX #commodities
May 4, 2023 • 7 tweets • 4 min read
1/7
 Gold is moving up to test all time highs around US$2089 (basis futures).

The mover higher has been steady so far but should become very active once new highs are achieved.

A Wave 3 is in play and short covering should add zip.

A US$100 intraday move soon?

#gold $XAU $GDX Image 2/7
 Breaking to new highs should bring about an out-of-the-box move.

Over 40 months in this box so the compression pressure should be very high.

Targets are over US$2500.

Should get that US$100 intraday move soon.

#gold $XAU $GDX Image