GOLD UPTREND SHOULD CONTINUE

Prices are at 50% retracement of upleg from late Feb.

Speculative / commercial positions are within normal limits, i.e. not overstretched.

Hedge gold longs with USD longs against EUR, JPY, NZD, CAD.

Trade active:

Entered long.

Very interesting support zone near 1210-1220.

Trade active:

Reversal of correction is imminent

Divergence on 15M chart

Trade active:

Now we have divergence on a 4H chart. Adding to longs here.

As always, hedging with USD longs against JPY/EUR/NZD/AUD (which have performed rather well today!)

Comment:

Some juicy bullish divergence - bearish momentum slowing