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5 May 2015
Looking to buy the dip in spot Gold - BofA
FXStreet (Bali) - MacNeil Curry, CFA, CMT, Technical Strategist at Bank of America, is looking to buy the dip in spot Gold.
Key Quotes
"We reiterate our view to buy gold (despite the growing bullish evidence for the US $). The completed, intra-day impulsive advance from 1143 (Mar-17 low) says the Gold trend has turned bullish."
"This current pullback from last Thursday’s mini blowoff should be seen as a buying opportunity and not exceed the Mar-17 low, at 1143. Upside targets are seen to 1307/1345 and, potentially, beyond. See below for entry."
Key Quotes
"We reiterate our view to buy gold (despite the growing bullish evidence for the US $). The completed, intra-day impulsive advance from 1143 (Mar-17 low) says the Gold trend has turned bullish."
"This current pullback from last Thursday’s mini blowoff should be seen as a buying opportunity and not exceed the Mar-17 low, at 1143. Upside targets are seen to 1307/1345 and, potentially, beyond. See below for entry."