Will GOLD Continue Rising?

The GOLD has been consolidating for quite a while now but that is finally over because it failed to break below the support at 1080.40 and moved to the upside, breaking above the resistance at 1095.30 and then continued climbing. That was to be expected, because it formed a hammer and a doji candlesticks right above the support on the weekly filter chart. I expect that it will continue rising at least until it reaches the next resistance level, which is at 1114.50. Considering how long we have gone without a proper correction, this move to the upside to 1114.50 might be only the beginning.