Gold holding good short term support at 1272/71 this week and holding above 1279/81 re-targets a selling opportunity in the 1290/95 area. We have further short term trend line resistance at 1301/02 so it is only a weekly close above here tonight that signals a very bullish breakout. If a sustained breakout is seen we have the first confirmation that gold is starting a longer term bull market.
Good short term support at 1272/71 but stop below 1267 if you try longs. Be ready to sell a break lower targeting 1265/64, 1261 and good support at 1258/56. Exit shorts and try longs with stops below 1250.
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