Gold Prices June 20, 2014, Technical Analysis

Gold markets rose during the session on Thursday, slamming through the $1300 level. We are now towards the top of the consolidation area that we had been in previously, so move above the $1325 level would be extraordinarily bullish as it would show we should attempt to reach the highs again. Regardless, with this impulsive and positive candle for the session, we have no interest in selling. Pullbacks will be used as buying opportunities in a market that has clearly shifted momentum at this point in time. Those pullbacks that formed supportive candles on either the daily or even as low as the hourly charts will be looked at as entries.