Gold Analysis (2016.04.08)
XAUUSD (1237): Gold pushed higher yesterday, and the current price action is showing a potential dip towards 1230 ahead of further gains. On the 4-hour chart, the current consolidation comes after a strong rally from the previous sessions. If the bullish flag pattern is formed here, Gold could test the levels of 1252 on a break above 1241 top that is formed currently. To the downside 1230 will be key to watch as a break below this level could see Gold post a strong correction to the downside.