Gold back from the brink
The commodity has truly bounced back in style, with Friday’s payrolls number providing a major spike higher through the crucial $1234 resistance level.
We are currently seeing some hesitancy, thus it seems worthwhile being bullish for an hourly close above $1248. This should avoid getting involved in any potentially long winded retracement. To the downside, key support levels are $1234 and $1224.