Gold held on to support Friday and traded higher though t was really unchanged from Thursday. At the moment, it's not like we are in any danger of breaking higher unless above 1395. This has been the recent high, it is the short term 50% Fib level, and looking like a short term Double Top...
So you can see the importance of this resistance. If we do break and hold above here there is scope for 1408/10 and this is where we would be looking to take profit. This area of resistance is quite significant and therefore we would hold shorts from here...only reversing above 1415.
So lets assume we sell 1395, we would look to take profit around the 1376/72 area. Only then should we re-sell a break of 1370 for 1365 possibly 1360.