{"id":20635,"date":"2011-04-12T22:54:20","date_gmt":"2011-04-13T02:54:20","guid":{"rendered":"http:\/\/countingpips.com\/fx\/?p=20635"},"modified":"2011-04-12T22:54:20","modified_gmt":"2011-04-13T02:54:20","slug":"gold-aiming-for-1650-per-ounce","status":"publish","type":"post","link":"https:\/\/www.investmacro.com\/fx\/2011\/04\/12\/gold-aiming-for-1650-per-ounce\/","title":{"rendered":"Gold Aiming For $1,650 Per Ounce!"},"content":{"rendered":"<p><a href=\"http:\/\/www.laidtrades.com\/wp-content\/uploads\/2011\/04\/gold-XAUUSD-April-11-2011.png\"><img loading=\"lazy\" decoding=\"async\" class=\"aligncenter wp-image-8592 size-medium\" title=\"gold XAUUSD April 11, 2011\" src=\"http:\/\/www.laidtrades.com\/wp-content\/uploads\/2011\/04\/gold-XAUUSD-April-11-2011-300x170.png\" alt=\"gold, XAUUSD, commodities, commodities market, commodities trading, inverted head and shoulders continuation, ron acoba\" width=\"300\" height=\"170\" \/><\/a><\/p>\n<p>Bling! Bling! Who wants to join the global gold rush? Just recently the price of <a title=\"Gold\" href=\"http:\/\/www.laidtrades.com\/category\/commodities\/gold\/\" target=\"_blank\">gold<\/a> set a new all-time high at $1,476.22 per ounce. Despite trading at this level, it appears that is some more upside on gold.&nbsp;<\/p>\n<p>As you can see from its daily chart, XAU<a title=\"US Dollar\" href=\"http:\/\/www.laidtrades.com\/category\/forex\/us-dollar-index\/\" target=\"_blank\">USD<\/a> or gold has recently broken out from an <a title=\"Inverted Head and Shoulders\" href=\"http:\/\/www.laidtrades.com\/chart-patterns\/inverted-head-and-shoulders\/\" target=\"_blank\">inverted head and shoulders<\/a> continuation pattern. Now, if you project the height of the pattern  from the point of breakout, an upside target of $1,650.00 could be  determined. Presently, though, it is already trading at an overbought  condition. Given this, it could move sideways for awhile or retrace a  bit back at the neckline of the pattern before it aims for $1,650.00.  The previous neckline resistance should now play as a support that could  launch it towards the said target. A break, however, of this support  could bring it back to around $1,400.00. Nonetheless, its overall bias  remains bullish given its present trend. <\/p>\n<p>More on <a href=\"http:\/\/www.laidtrades.com\/\">LaidTrades.com<\/a> &#8230;<\/p>\n","protected":false},"excerpt":{"rendered":"<p>Bling! Bling! Who wants to join the global gold rush? Just recently the price of gold set a new all-time high at $1,476.22 per ounce. Despite trading at this level, it appears that is some more upside on gold.&nbsp; As you can see from its daily chart, XAUUSD or gold has recently broken out from &hellip; <\/p>\n<p class=\"link-more\"><a href=\"https:\/\/www.investmacro.com\/fx\/2011\/04\/12\/gold-aiming-for-1650-per-ounce\/\" class=\"more-link\">Continue reading<span class=\"screen-reader-text\"> &#8220;Gold Aiming For $1,650 Per Ounce!&#8221;<\/span><\/a><\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[],"tags":[],"class_list":["post-20635","post","type-post","status-publish","format-standard","hentry"],"_links":{"self":[{"href":"https:\/\/www.investmacro.com\/fx\/wp-json\/wp\/v2\/posts\/20635","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.investmacro.com\/fx\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.investmacro.com\/fx\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.investmacro.com\/fx\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/www.investmacro.com\/fx\/wp-json\/wp\/v2\/comments?post=20635"}],"version-history":[{"count":0,"href":"https:\/\/www.investmacro.com\/fx\/wp-json\/wp\/v2\/posts\/20635\/revisions"}],"wp:attachment":[{"href":"https:\/\/www.investmacro.com\/fx\/wp-json\/wp\/v2\/media?parent=20635"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.investmacro.com\/fx\/wp-json\/wp\/v2\/categories?post=20635"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.investmacro.com\/fx\/wp-json\/wp\/v2\/tags?post=20635"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}