GOLD: With GOLD returning above the 1,348 level, further bullish offensive is likely. This leaves the commodity targeting further upside towards the 1,450.00 level, its psycho level. A cut through here will aim at the 1,500.00 level, its psycho level.
A cap may occur here and turn it lower but if that fails, more upside will develop towards the 1,550 level.
Conversely, support stands at the 1,348 level with a break targeting the 1,300.00 level and then the 1,272.12 level.
A turn below here will turn attention to the 1,250.00 level and then the 1,215.00 level.. All in all, GOLD remains biased to the upside medium term.
Guest post by FX Tech Strategy
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