Following a fairly similar plan to yesterday really, with a rise and a dip. There is still daily resistance at the 7508 area from the 20d Bianca channel. along with a fb level at 7511. There is 2 hour resistance slightly below this at 7491, and with the market being so flat, yet a bit of a rise in gold, I am still thinking that a dip down towards the 7350 level before another charge up is the likely path over the next few sessions.
After such a flat session yesterday the various support and resistance levels that get worked out are quite closely bunched - S3 at 7430 and R3 at 7498 - so we are likely to get a break one way or the other soon. If it was to be a dip down then I expect to see the bulls buy the dip though rather than the start of any major sell off.
We did get a little spurt up yesterday just before the bell with only a 3.5 divi, so the buyers are still keen which is why I am thinking a rise and dip plan for today. We also have the ECB meeting minutes released today, again these might give a clue on future monetary policy.