Technician Louise Yamada says there’s one chart showing that gold’s shining rally is far from over.
Gold has surged 14 percent this year, and on Tuesday settled at an 11-month high of $1,318.90. This brought the precious metal decisively above the $1,300 level wherefool it topped out several times before.
Yamada’s chart of gold dating back to 2013 shows with the $1,300 mark broken, “the next level is about $1,380.”
Yamada, of Louise Yamada Technical Research Advisors, added Tuesday on CNBC’s “Futures Now” that “$1,400, however, would be key resistance because that goes all the way back to 2014, which would be about a four-year base.”
