has played out well on a technical basis. My previous analysis was rather spot on, as price action was leaning towards support at $1,133 from $1,170. Price found support and moved higher to resistance level
one of $1,179 before profit taking today.
Price action should remain within the descending channel
, while a close below it will likely send gold
quickly to $1,000.
See this week's analysis here: http://tinyurl.com/myhztjg
Please see previous analysis here: http://tinyurl.com/mjaqrqo