Forex - US Chart COMEX Apr Gold Update: Still grinding it out for now with 1238 up next


 14:16 (GMT) 20 Mar

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US Chart COMEX Apr Gold Update: Still grinding it out for now with 1238 up next (0100-MGZX-C01)

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Asterisk denotes strength of level

14:15 GMT - GCJ7 has not been able to do much early in the session given the lack of movement from the DXY, but we still think that gold has further grind potential up to 1238 and 1250 this week. We are not that confident yet that the mkt can take out the 200-day MA upside unless the DXY endures a serious sustained fall. While the DXY only modestly dips, gold upside is likely restrained to 1250/69 zone S/T.