Gold looking for support

COMEX:GC1!   Gold Futures
270 1 3
The 50 day simple moving average combined with the .618 retrace held as support...for now. Gold             could bounce from here but if not 1200 would be a good entry point.
good view, looking at the way its resting below 1234 without anysign of bounce i believe 1200 is the best bet..
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