GOLD: With GOLD closing higher to halt its two week correction, it now looks to extend that gain. Resistance resides at the 1,334.65 level where a violation will aim at the 1,359.00 level. Further out, resistance comes in at the 1,380.00 level where a break will aim at the 1,400.00 level followed by the 1,450.00 level. On the other hand, a failure of its recovery will mean a return to the 1277.58 level. Below here if seen will aim at the 1,250.00 level followed by the 1,230.00 level. Further down, support comes in at the 1,200.00 level. All in all, GOLD remains biased to the downside in the medium term though recovering higher.
Article by http://www.fxtechstrategy.com/
