BofA see gold to record highs - here are the levels they are watching

Author: Eamonn Sheridan | Category: News

Via technical analysis from the bank (note from earlier this week)

  • can hit record highs before the end of 2020, BoA looking at Q3
  • eyeing the next resistance level at $1800
  • thereafter the next breakout level at $1900
Currently:
  • breakout occurring now ... eight week trading range
  • has resumed higher
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Separate Bank of America analysis does warn that gold is the fourth most-crowded trade (after US Treasuries, cash, and tech stocks)

I'm not sure why BoA are nominating the round numbers up above. 


For bank trade ideas, check out eFX Plus
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