That is an interesting question...what is evident is that we have seen positive momentum for gold in the last 3 days, in fact if we look back the last few months, gold has not really seen 3 green days in a row, so this is very very interesting. A break above the 1275 - 1300 level is going to be very bullish, but right now we are in the middle of market holiday reversals. What is that? Well put simply, alot of the smart money are unwinding their positions and getting ready to go to the Hamptons, so this is a time period where the market can throw off a lot of traders and charts so one must be very careful here.
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| where is the gold price heading |
we will have to wait to see where is the gold price heading in the coming weeks, as this bounce does need more sustainability before one can stick out their chest and safely say its going up.
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