Gold has been holding on to its 2 year uptrend line so far, if it breaks the first support line, it can go low as $1240. The big resistance is at 1360. For bulls to keep in control, gold has to stay above $1240 and try and push past $1360.
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Gold slowling going to the 2 year up trend support, if 1240 breaks, bulls will lose control.
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2nd support reached, going long with a tight SL at 1254.63.