GOLD: The commodity remains vulnerable to the downside having declined the past week. The risk is for more downside to occur towards the 1,272.00 level.
A violation of here will aim at the 1,250.00 level with a turn below here shifting attention to the 1,215.00 level and next the 1,180.00 level. Conversely, resistance lies at the 1,399.79 level.
A cut through here will open the door for a run at the 1,433 level. Further out, resistance resides at the 1,450.00 level, its psycho level. All in all, GOLD remains biased to the downside.
Guest post by FX Tech Strategy
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