By Jeremy Boulton — Oct 30 - 03:30 AM
Gold leaps to a record high at $2789.73/oz
The top of 20-Bollinger bands at $2795.93 allows for further rise
Pullback's from overbought situations have been regular but modest in 2024
Dips following moves to or above Bollingers decreasing recently
Bets on gold rising yet to lead to reversal - record bullish bet may evolve
Potential targets for continuation bull trend: $2871, $2954, $3037, $3155
Weight of longs may prove more telling if $3000/oz target met
Source:
Refinitiv IFR Research/Market Commentary