Gold at USD 1215 .. back above USD 1200 … bullish !


On November 23rd (Link here below) I wrote : « USD 1200 support gives away and if prices does not go back quickly above this level/stabilizes at current level (USD1190) more pressure on the downside to USD 1150 – 1100 range  might be expected. »

Since then Gold prices bottomed at  USD 1122 and nicely reversed , crossed the 50D MA and  re-broke the key 1200 level . More potential does exist from here as long as price does not go back quickly below the USd 1200 mentionned level .

Daily Gold chart :