GOLD: With GOLD putting in a bottom the past week, risk of further upside should build up in the new week. On the upside, resistance lies at the 1,230.00 level where a break will aim at the 1,250.00 level.
A break will target the 1,270.00 level followed by the 1,300.00 level. A cut through here will extend gains towards the 1,330.00 level. On the downside, support stands at the 1,200.00 level where a break will aim at the 1,180.00 level.
Below here if seen could trigger further downside towards the 1,150.00 level where a break will aim at the 1,130.00 level. All in all, GOLD remains biased to the downside in the medium term.
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