By FXEmpire.com
The gold markets rose during the Monday session as the “risk on” trade came back due to the better than expected Chinese PMI numbers over the weekend. The market looks strong, and the $1,700 level certainly looks like it is our next destination. We like buying gold on the pullbacks, and will continue to do so until we break below the $1,500 level. As such, we like adding to our positions above the $1,700 level as well, as a break of that next resistance mark signals momentum working in our favor. Entering into the gold markets on the long side via short term charts is our preferred method at the moment.
Gold Forecast April 3, 2012, Technical Analysis
Originally posted here
