MattSzwyd

XAUUSD: Gold upward -- slowly, but surely.

Long
FX:XAUUSD   Gold Spot / U.S. Dollar
After a few weeks of struggle to break the 1260 level, XAUUSD has finally popped. Recent U.S. actions against Syria have stirred up an otherwise tepid market with a great deal of money moving into the "safe" assets. While gold has found its footing above previous resistance (at least for today, as we'll see what the weekend brings), every forthcoming detail regarding our new conflict in Syria and subsequent response from both Syria and its allies (well, Russia in particular) will likely edge XAUUSD higher. While I am long, I am "neutral long" -- I don't expect any sharp , sustained moves upward, through I do expect major pivots around the .618 and .382 parallels of my modified pitchfork (labeled, highlighted in purple) which ultimately amounts to a higher price for gold .

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