Gold back in a bullish phase
Gold has been regaining ground since Friday’s lows, with the price having retraced below the 61.8% retracement level.
Crucially, we have seen the price creating higher highs and lows, with that recent pullback providing yet another higher low to push higher from. We appear to be in the bullish phase now, pointing towards further upside to come. With that in mind, a bullish outlook is in play unless price breaks below $1320.