I still can’t put a finger on what exactly is going on this afternoon but we’re not closing out the week with the usual apres non-farm whimper.
Gold broke back above the breakdown level at 1387 and then found life tough at 1294. We’ve smashed that and 1300 today pushing up to a 1307 high.
Gold daily chart 04 04 2014
The 200 has been smoked and we’re looking to put in a close above the 55 dma at 1304. Just above here we have a former S&R level at 1309. A strong close would suggest we get another push up but I’m in two minds as to whether this is a real move from NFP disappointment, or a bit of covering into the weekend.
