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Gold - Re-test of $1320 likely

FX:XAUUSD   Gold/U.S. Dollar
Gold's retreat to $1329 from a minor pop in Asia to $1337.73 marked a failure to sustain above the top end of the expanding channel pattern seen on the daily and has opened doors for a drop to $1323-1320 levels.

A day end closing below $1320 would open doors for a slide to $1300 levels. \

On the higher side, a daily closing above top end of the expanding channel could yield a move to $1358.10 (June 24 high).
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