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GOLD Closes In On The 1279.00 Resistance Zone

GOLD: With GOLD continuing to hold on to its broader upside pressure, further strength is expected. It now looks to recapture the 1279.00 resistance zone. But note that if that level remains unbroken, a move lower could follow. On the downside, support comes in at the 1260.00 level where a break will turn attention to the 1250.00 level. Further down, a cut through here will open the door for a move lower towards the 1240.00 level. Below here if seen could trigger further downside pressure targeting the 1230.00 level. Conversely, resistance resides at the 1279.00 level where a break will aim at the 1290.00 level. A turn above there will expose the 1300.00 level. Further out, resistance stands at the 1310.00 level. All in all, GOLD looks to resume its broader medium term uptrend.

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