From a monthly perspective, we saw a huge reversal off 1250 per OZ and a close above 1300 last month. This also respected our and I believe we are coming back up yo test 1350 again.
Last week we a had a strong close with a recently crossover of EMAs back to to the upside. There could possibly be a deeper pullback down to 1300 but momentum seems strong.
Today we had a surge of momentum during the morning session - we've sine then pulled back but remain nicely above our EMAs. 1325 remains a strong area of daily resistance but after breaking this point, there is a good chance of accelerating back up to previous highs.
Higher highs and higher lows formed - a pullback into our preferred fib zone with a break off the CTL and an crossover. Will hold this trade for longer than usual to see upside momentum.