Gold shifted into a bullish marginal cycle at Friday's close. What is the current outlook?
- A correction to the balanced flow debt closing levels (from which we have now bounced).
- Daily balances are currently situated in the 4075-4073 region.
Conclusion: Conservatively, we should wait for a breakout above today's balance levels to initiate long positions. For a more aggressive approach, buying from current levels is possible, provided a stop-loss is placed below the recent extreme.
Price action remains quite muted as we have seen a minor bounce from the balance levels. We require fresh fundamental catalysts to drive further momentum.
A breakout above the quarter levels would serve as a strong bullish signal for intraday trading strategies.
