Therefore if gold manages to break down under this important , this will create a huge damage to the technical side. Thus it can signal that the uptrend will be over and gold will go into a camp for the medium term. However, if gold manages to hold this important , bulls will come back to push price up as it might signal that bears are exhausted to break this one down.
It is important to watch the price action here before committing to a trade. Please note we might have hidden divergences on and indicators, which means that the recent upswing to 1300 was just a correction before price attempts to break lower under 1267. Thus, the bears have a technical advantage here and price would likely to go down further, at least test the at 1267.