Gold has been trading downwards in pat 24 hours. Anyway, there is still bullish view in the background. Further upward movement is possible.
Gold did up break of the trading range in the background, which is good sign for further upward movement. Yesterday was the very wide range bar so the today's pullback is normal after these kinds of day. You should still watch for potential buying opportunities on the pullbacks. The key resistance level is set at the price of $1.309
Upward references:
Swing high – $1.309
Downward:
Swing high acting like support – $1.291
Bottom of the balance - $1.277
