Tech analysis by Simon Kazinsky on 09:59 June 16, 2016 EST
I have been advocating in the last technical reports for Gold that the muti year bear cycle appeared to have ended at the $1,100 low and were moderately bullish.
By crossing the $1,300 mark Gold is now above all its relevant Moving Averages in the weekly chart and, of course, not overbought in medium - long term time frames.
Therefore, my confidence in further gains for Gold have increased and the strategy must be to buy dips on shorter time frames.
As the chart shows there is a multitude of supports now for Gold in the weekly chart that would need to be broken to change bias.