FX:XAUUSD Gold / U.S. Dollar
Comment: Technically, June gold futures prices closed near the session low today. The gold still bulls have the slight overall near-term technical advantage but have faded badly and need to show fresh power soon. Prices are in a three-week-old downtrend on the daily bar chart. Gold bulls’ next upside near-term price breakout objective is to produce a close above solid technical resistance at $1,270.00. Bears' next near-term downside price breakout objective is pushing prices below solid technical support at 1,200.00. First resistance is seen at $1,240.00 and then at $1,250.00. First support is seen at today’s low of $1,228.00 and then at $1,225.00
Comment: all we need is close above 1225 for tonight.