gold reversal off $326

Up until yesterday I was bearish gold with possible downside to $308, however, the price has reversed off $326 and briefly broken out of the resistance area between $325 and $331. This seems to me to be a bullish reversal with rally potential to $356 area which was previous resistance level on the way up.

I bought 25 ncm calls and some ALK shares, given ALK should have some drill results in the next few weeks.

Notwithstanding the above, downside risk is still a possibility.

Has anyone got an opinion?

Regards,
noip