A series of bullish clues in trading on Monday
There was a series of successive bullish technical clues in the gold hourly chart during Monday’s trading.
Those moves, tilts the bias more to the upside (more bullish). It will now take a move back below the trend line and the 200 hour moving average at the $1424.05 level to give the buyers some cause for concern.
Absent that (and a further extension below the 100 hour moving average – blue line) and the buyers are in firm control, with the high from July 25 at $1433.84 as the next target followed by swing highs from June 25 and July 3 at the $1437.88-$1439.21 area.