GOLD: Sees Further Bullish Momentum.

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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.GOLD

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.

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