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Gold – watch out for daily close

TVC:GOLD   GOLD (US$/OZ)
Gold             breached support at $1300 and is now trading around the rising trend line support of $1287.

Watch out for daily close

If the close is below $1287 it would suggest the rising trend from Dec lows around $1050 has ended. However, it is advisable to wait for at least two consecutive daily close below $1287 before concluding the long-term uptrend has ended.

On the higher side, only a daily close above $1313 would see a spike in buying interest.
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