Gold has broken back below 1300.00 pivotal support level, and the main ascending support that carried the bullish correctional wave, and thus further downside is seen now, as the correctional phase may have ended. The next downside target at 1267.00, while 1308.00 will be the new upside pivot.

Support: 1285.00, 1275.00, 1268.00, 1261.00, 1250.00
Resistance: 1294.00, 1300.00, 1308.00, 1318.00, 1323.00
Recommendation Short below 1300.00, targets at 1280,1268.00 and 1240.00.Invalidation above 1310.00

Support: 1285.00, 1275.00, 1268.00, 1261.00, 1250.00
Resistance: 1294.00, 1300.00, 1308.00, 1318.00, 1323.00
Recommendation Short below 1300.00, targets at 1280,1268.00 and 1240.00.Invalidation above 1310.00