Gold had a nice action, acted well according to our plan from friday's morning note:
"Some buying interest resumes in Gold . It found some support at $1281.50ish, broke up intermidiate resistance and we can see $1290 soon. A break bigger down trend line could set it back in motion and attract more active buyers."
Now we have close above short term moving averages and down trend line. I am a buyer above 1304.5, next support at 1300. My target zone that may be reached this week is 1322 (200 Moving Average) and 1330 (previous swing high from where it bounced).
"Some buying interest resumes in Gold . It found some support at $1281.50ish, broke up intermidiate resistance and we can see $1290 soon. A break bigger down trend line could set it back in motion and attract more active buyers."
Now we have close above short term moving averages and down trend line. I am a buyer above 1304.5, next support at 1300. My target zone that may be reached this week is 1322 (200 Moving Average) and 1330 (previous swing high from where it bounced).
