Gold is sharply higher, up $95 (+2.41%) at $4,024, reclaiming key technical ground in the process. The move has pushed the metal back above the $4,000 level and the falling 100-hour moving average, which sits just below at $3,999.85. Holding above both marks keeps the near-term bias tilted to the upside, though bulls still have more work to do.
The next key resistance comes in at the falling 200-hour moving average near $4,083.62. A sustained break above that level would firmly shift control to buyers and reinforce the broader bullish bias.
For now, buyers are making a stand — the question is whether they can maintain momentum and extend the move toward stronger resistance levels in the sessions ahead.
This article was written by Greg Michalowski at investinglive.com.