Gold‘s price reached this week a critical resistance of 1295.00, from which in the second half of April supply pushed price down to 1215.00. Rebound from mentioned resistance pushed Gold to support at 1274.00, which is now intersecting with trend line from the 9th May low.
It is important how price will behave in near future, as breaking area where horizontal support at 1274.00 meets the trend line may activate bears and Gold -0.35% can head towards next level of defence at 1260.00.
In case of rebound, the key target for buyers should be to beat the last highs at around 1295.00.