Gold future base reinforced; upside risk through 1294 for 1308
Still building on the solid rebound from our trend line support, now 1247, that rejected an easing of bull risk, to now push through the 1280, latter Jan peak.
The Jan push above a key peak at 1267 signaled a bullish short-term theme into Feb whilst above the trend line and 1231 key chart prop.
The anticipated push higher through the 1280 high now aims for the 1294 swing peak into mid-Feb.
Overshoot risk for the month is higher to the 1308 retrace and 1326 chart level.
The 8-day RSI, is positive, far from OB, leaving scope to go higher into early Feb.
WHAT CHANGES THIS?
Below 1247/39 eases bull risks; through 1231 signals a neutral tone, only shifting negative below 1212.
Please see full report with levels and latest audio-visual analysis here:
