Gold Is Moving to the Upside

After the announcement of the US change in Non-farm Payrolls last week Gold dropped considerably, from $1,364 to $1,330 but that drop was only temporary. It formed a double bottom on the four-hour time-frame, as well as a doji candlesticks on the daily time-frame above the aforementioned support at $1,330 and started moving to the upside. It is currently testing the resistance at $1,355 and I think that if it breaks above that level it will likely continue towards the previous high at $1,367 and then towards the one at $1,375. A breakout above both those highs will likely lead to a further move to the upside towards $1,400.