, Gold breached $1253 (earlier resistance, now support).
A sharp recovery from low of $1234 followed by a break above daily 50-MA and subsequent breach of key Fibo level at $1253 indicates prices are on track to test falling trend line resistance currently seen at $1263 levels.
A day end closing above the same would indicate a short-term bottom is in place at $1234.
On the lower side, a clear break below $1230 is needed to signal bullish invalidation.