Gold breaks back below 1300.00 and approaching Friday’s key low at 1283.00, breaking below 1300.00 reverses the bias to bearish; however holding below 1300.00 over daily closing basis may confirm further downside and the resumption of the overall bearish trend.
Support: 1285.00, 1275.00, 1268.00, 1260.00, 1250.00
Resistance: 1300.00, 1308.00, 1320.00, 1330.00, 1338.00
Recommendation Short below 1305.00, targets at 1285.00 and 1268.00. Invalidation above 1320.00