Gold breaks to the upside, reaches our targeted area at 1320.00 major previous low. The price may extend the bullish correction, however faces the 50-days SMA and a horizontal resistance around 1338.00 as well, where we may see renewed downside pressure from that key area. A breakout above that resistance at 1338.00 will signal a potential upside reversal.

Support: 1308.00, 1302.00, 1295.00, 1285.00, 1275.00
Resistance: 1321.00, 1330.00, 1338.00, 1350.00, 1360.00
Recommendation Short below 1340.00 target at 1321.00 and 1300.00. Invalidation above 1356.00

Support: 1308.00, 1302.00, 1295.00, 1285.00, 1275.00
Resistance: 1321.00, 1330.00, 1338.00, 1350.00, 1360.00
Recommendation Short below 1340.00 target at 1321.00 and 1300.00. Invalidation above 1356.00
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