CUR - Our Gold Model Has A Neutral Conclusion (Technical And Quantitative Analysis)

2024-05-14 08:30:29 ET

Summary

• The Midas Touch Gold Model™ analyzes the gold market from various perspectives with a rational and holistic approach while reaching a clear conclusion.
• The gold market experienced a strong rally, reaching a new all-time high of USD 2,431, but has since stalled and shows signs of a short- to medium-term trend reversal.
• The Midas Touch Gold Model™ switched to a neutral stance on April 15th, predicting the pullback in the gold market.
• The cup-and-handle formation suggests a long-term price target of around USD 3,100, but a healthy correction to the breakout level of USD 2,075 to USD 2,150 is expected before further gains.

As usual at this time of the year, we would like to provide an update on the current status of the Midas Touch Gold Model™ and present our short- to medium-term outlook for the gold market....

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