The red dotted line in the blue also indicates the previous break out level and resistance so could also add support.
* A break of this level would, for me, be the main indicator that the tide is turning slightly for the bears here.
Looking at the potential fundamentals with the dreadful German sentiment numbers today, ongoing Euro uncertainty, a potential Dollar bubble. I'm massively gold . BUT. Patience is a virtue..... Let the bears have their day.. For now.
Good luck trading out there.