Bears tried 4 times but gold closed all last 4 monthly candles above 20 . To me its a very sign and now we have breakout of last high after Brexit.
There will be consolidation as gold has approached towards Monthly Resistance but overall picture is very . Next milestone will be 1430/1435. If it remains under 1430/1435 then consolidation will remain in place between 1200 and 1435 But weekly and monthly candle close above 1430/1435 will open new doors towards 1550 and towards 1800 and 1900.
This week is very important for gold especially Monday!!! I will be watching for retracements as it will clear long term picture..
For now gold holds setup on .. lets see how it rolls for short term but monthly chart is depicting breakout upside soon.
To turn gold ... Monthly Candle needs to close below 20 ema!!! Above bulls will keep rocking.
It is now close to big resistances 1390 and 1430 and NFP didn't effected much gold which suggest it will keep continue for upside but with turtle pace.
On last US elections gold starting falling before elections but it was up before elections topping close to $1895.. Important thing to note is.. there are rumours of market crash again before elections.. so keep eye on conspiracy theories as well...!!! There is something extraordinary in this year... gold rose high in start of this year after 1985.. then jpy strengthen and usdjpy and jpy pairs tumbling down.. and now Brexit.. and then we will be having US elections.. Plenty of action more to come.. and I prefer remain bullish on gold with buying on dips!!