Metal trading was closed for good Friday thus creating a market risk materialized today with a wide opening gap.

The strong bullish stance on gold is mostly the result of poor NFP figures released Friday. The precious metal is taking advantage of the current dollar weakness and is now attacking a strong resistance zone that has been in force for a significant time. This range mode phase allowed the price to accumulate a lot of strength therefore in case of range breakout (1180$ - 1222$) we can expect a sustained directional move to 1250$ easily. Beware the opening gap calls for a retest before any bullish continuation 1212$ is an interesting support and swinging point too. In case the price should break below 1212$-1210$ the picture would turn slightly bearish. Our stance for the day is bullish.