Chart signals double-digit rally for gold

From cnbc.com Watch this video at https://www.metalsmine.com/news/922401-chart-signals-double-digit-rally-for-gold.

The gold trade is shining bright. Investors rushed into the commodity on Thursday, pushing it to a four-month high. Gold is now just 1% away from its 52-week intraday high of $1,349.80 from February, and TradingAnalysis.com’s Todd Gordon believes it may soon surpass that level. After examining the charts, he says bullion could climb as high as $1,500. Gordon points out that gold rallied from $250 in 2001 to nearly $2,000 in 2011 but has been stuck in a trading range since then. Gold has been steadily climbing this year and is now trading around a key level that has provided resistance in the past. Since the commodity is knocking at former highs, Gordon believes that “the next $60” will see a lot of “buy stops going off,” which is when traders place orders ahead of time to buy something once it hits a specific price.