Near Term Trend: Positive
Friday’s Close: $1,260.60 (+ 5.00)
UPDATE: NOTE: We have rolled to the June contract.
In our last commentary when Gold had just settled at $1,236.20 we stated, traders should wait for a further dip to buy near $1,200.00.
Unfortunately six days ago, February Gold only dipped to $1,216.00 as we were overly cautious.
The market has in fact bounced but we have not participated.
Key near term resistance for the June contract