Do you want to know the next technical level on the charts for Gold?

Further to the previous, corrected update (owing to a couple of typos- apologies) on Gold, the metal has now gotten its name in the record books once again. It rose to set a new all time high earlier, at $2,956.19. However, it has backed away from that new record just now. Looking at the longer term daily chart on Gold and taking that back to April last year (high then around $2,431) we can see a rising trend line that was formed when it touched $2,790 at the end of October. If you extend that trend line to the current price action you might see that it comes in at around $2,995 now. Of course that it still some way off and it will change as each day passes. Nevertheless, now that it has moved further into uncharted territory, it is good to know there is a line of demarcation on the topside from which to assess future price action, as and when. Of course Gold might not get that high, but it is quite interesting; that there is a technical level pretty adjacent to the $3000 level, that so many analysts have been touting lately. Gold is right now at $2,948.90