By CommoditiesMansion.com
Today’s market provided supportive action for the April gold contract right at the all-important $1400 mark. We mentioned a couple days ago of the necessity for a destabilizing motion in this marketplace to be able to consider buying gold again. Because of the last two days, it appears that we are heading back up in price.
Price is closing towards the highs today, which of course is a very bullish sign. Because of the recent action, it is suspected that we are heading back up towards $1440 an ounce. On the downside, as long as we stay above 1380 an ounce we should be still trading with a bullish bias. Any move above today’s high should be considered a buy signal.
