GOLD, monthly MA100 on test again!
Third green month in a row for the precious metal and second attack on monthly MA100, which has stop the buyers in February. Gold bulls broke the triangle yesterday and previous resistance at 1265, after wich the bullish momentum continued today as well. High of the day is 1274.84 and it’s not a question of resistance level in this area, but the monthly MA100 instead. Next technical resistance and target for bulls could be 1285 > 1307. Support is waiting at 1250/55 on daily. But, let’s take a look at the montly TF. In my point of view, 1200 is strong support now and possible next target for the bulls in the coming period could be even 1400!? This is just a beginning of the March and the buyers have advantage now to brake true the monthly MA100 in the coming days/weeks. This area will be very interesting and the precious metal is for sure the story for itself.