Gold has been very difficult to trade recently, being very choppy and trading within a relatively tight range. We saw on the last trading session of last week price dip into the major supply zone again, and then a strong bullish reaction from this area. The daily close was a bullish candlestick and managed to close above the 1700 handle which is acting as a key psychological level. With price managing to hold above this area it confirms our bias and we will continue to hold our long swing trade which sits at 630 pips in profit. We've highlighted an opportunities for a pullback to enter in a long position with a low risk/high reward setup and with high probabilities. From a COT perspective banks are yet to start to unload any considerable positions on their gold holdings.