Bullish Gold

Gold Riding The Bulls (1H)

Closing in the 1345 zone, Keep an eye open for a close above the level which could lead to a breakout into the target zone.

• If Resistance is not broken and price is rejected we should keep our eyes open for a short into the 1341 area.
  
• Should current momentum continue, we should see prices hit the target zone.
  **currently looking to brake out of the regression channel
  

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Having a look at the Moving Averages,
it tell a story of its own.

MA5 - (S) 1348.34 / (E) 1348.38
MA10 - (S) 1348.29 / (E) 1348.26
MA20 - (S) 1347.95 / (E) 1347.30
MA50 - (S) 1344.04 / (E) 1345.47
MA100 - (S) 1343.53 / (E) 1344.05
MA200 -(S) 1342.59 / (E) 1343.59

Great positive for current price level

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Gold/US Dollar Index comparison.