Gold Short Term Bullish Base?
Prepared by Jamie Saettele, CMT
Last week’s hold above the 4/4 low suggests that gold has been forming a bullish base since mid-March. Exceeding the April high would put bulls in control towards the trendline above 1700 (that line extends off of the September 2011 and February 2012 highs).
Bottom Line (next 5 days) – higher?