FX:XAUUSD   Gold/U.S. Dollar
Resistance - 1283, 1295, 1303

Support - 1263, 1253, 1247

  • Gold's weak closing today despite having closed above $1283 levels on Friday would shift risk in favor a drop to $1263 levels.
  • If breached, support at $1253 (flag support + 23.6% of Dec low-May high) would signal short-term bullish invalidation.
  • On the higher side, break above $1283 is essential if prices have to re-test $1300-1303 levels.
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