Gold Technical Outlook

Gold outlook remains to the upside as we look for it to move higher towards the 1,424.30 level. However, it will have to hold firmly above the 1.388.10 level to achieve that. It has wiped out its Wednesday weakness in today’s trading session supporting our bullish call. On further strength, Gold should target the 1,450.00 level and then the 1,500 level.  To reverse this view, the commodity will have to break below the 1,315.60 level, its Oct 18’10 low and its rising trend line. Zone should declines if seen and turn Gold higher again but if snaps, a run at its psycho level located at the 1,300.00 level is likely. The commodity looks to return to the 1,424.30 level while holding above its MT rising trend line.