andrew.berg
Long

GOLD looks better for active traders after broke up

FX:XAUUSD   Gold Spot / U.S. Dollar
Gold             had a nice action, acted well according to our plan from friday's morning note:
"Some buying interest resumes in Gold             . It found some support at $1281.50ish, broke up intermidiate resistance and we can see $1290 soon. A break bigger down trend line could set it back in motion and attract more active buyers."
Now we have close above short term moving averages and down trend line . I am a buyer above 1304.5, next support at 1300. My target zone that may be reached this week is 1322 (200 Moving Average) and 1330 (previous swing high from where it bounced).
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