Gold – MT Bullish Bias While Above Key Role Reversal Level | Mar 8

Gold – Bullish MT While Above Key Level (4hr chart)
Continuing with our bullish bias which we talked about in our weekly market commentary & last week, Gold is maintaining the wide corrective structure between 1278 an 1255.

I’m expecting some position paring ahead of the ECB meeting this week, but as long as we stay above the key role reversal level 1250 on a daily closing basis, my bias will remain bullish and I’ll keep looking for longs on gold vs. the USD and other crosses.

Upside besides 1278, the 1300 figure becomes the next logical target.

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