Dear friends and technicians.
Gold is on the rise, simply because the market is risk averse and seeking more risk friendly investments. I think we are heading towards a quite financially difficult year, where you have economic uncertainties all over the world. On a short term basis, gold tend to rise in these times, the same is the Swiss franc (chfusd).
I am quite confident that gold will continue to rise until we reach the 1350 level. We could have a small retraction at 1305 level but that is not strong resistance.
On the MACD, we can see that it is still showing a bullish development.
As you see from my analysis, I am not only looking at the technical side of the development but also the fundamental. Both the fundamentals and technicals are showing a bullish gold market.
I would be more than happy to receive your thoughts on my analysis.
Your future analyst RR.