"Note the Fibonacci 0.618 resistance and support turned resistance (according to price actio
Gold could continue sliding lower
$1.280.00 levels) are converging as well. Only a break above $1,300.00 would confirm bullish reversal. The $1,240.00 levels are of interest for bulls to still hold ground."
"Intraday resistance is seen at 1.3600/10 which should be taken out in the next leg up. Only a break below 1.3490/95 levels would delay matters further. The counter trend rally, if materializes could extend up to 1.3750/1.3800 levels."
"Support is seen at $1,245.00, followed by $1,230.00/40, $1,210.00 and lower while resistance is seen at $1,300.00/10, $1,330.00 and higher respectively."
"The structure indicates that Gold could continue sliding lower, after reversing from the trend line resistance. Only a sustained break above $1,300.00 could prove that bulls are going to stay in control."
" One could remain short now, risk remains at $1,300.00."
"Intraday resistance is seen at 1.3600/10 which should be taken out in the next leg up. Only a break below 1.3490/95 levels would delay matters further. The counter trend rally, if materializes could extend up to 1.3750/1.3800 levels."
"Support is seen at $1,245.00, followed by $1,230.00/40, $1,210.00 and lower while resistance is seen at $1,300.00/10, $1,330.00 and higher respectively."
"The structure indicates that Gold could continue sliding lower, after reversing from the trend line resistance. Only a sustained break above $1,300.00 could prove that bulls are going to stay in control."
" One could remain short now, risk remains at $1,300.00."
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