Gold tested 1300.00 level yesterday, but failed to break it, to retreat strongly after testing this key area, where the descending resistance and the horizontal resistance meets near 1300.00, as shown on chart. We prefer to move to the sidelines after being bullish, and monitor if 1260.00-support area will hold.
Support: 1275.00, 1268.00, 1261.00, 1242.00, 1230.00
Resistance: 1285.00, 1295.00, 1302.00, 1308.00, 1320.00
Recommendation Neutral