Pivot: 1252.
Our Preference: As long as 1252 is support, a test of 1434 seems likely.
Alternative scenario: A downside breakout of 1252 would open the way towards 1434.
Comment: gold prices have broken a key declining trend line. The 20-day moving average is turning up.
Trend: ST Bullish; MT Range, we have been bullish since 30 OCT 2013 (1355).
Key levels Comment
1522 Key horizontal resistance
1485 Fib retracement (50%)
1434 Horizontal resistance
1355 Last
1252 Pivot point
1180 Horizontal support
1080 Fib retracement (50%)
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