Commodity : SPOT GOLD
Current Price : 1267
Status : On watch for higher low
Spot Gold is showing great signs for continuation and a measured move up to 1293. We can see that the initial leg up from 1216 peaked at 1263 before price consolidating and founding major support at 1246. Price action then build a higher low at 1254 and rallied up through 1263 to begin the next leg up that could take price up to 1293. We expect to see some minor contraction prior to a higher low and then watching the action unfold.