GOLD, bulls are really relentless!

mario urlic forex gold weekly 11.02.

What a two weeks on gold, woow! I can’t find something similar in a long time and this is only an idication of how much investors are afraid in the moment. Talk about possiblity of interevention from the SNB and BOJ stoped the CHF and JPY, but gold… Who will intervene here? I wrote in my previous gold analysis in the morning that, the 1230/35 is the next target for the buyers and they have reached that easy an hour latter. Not that they have reached 1235, but even more with 1242 high today. But, As I sow it before, that’s how I see it now that this is technical resistance level. As I always says, resistance levels in the bullish trend like this are not for short positions, they are targets for the buyers. Sure that the buyers have reached their target on gold in the last two weeks and there is no doubt about that. 🙂 Are they happy enough or they want more, who can tell!? On the way back, the first stronger support could be at 1215, 1200>1195 the strong one. Sure, who have the balls to sell now? 🙂 Let’s see!?

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