Gold markets went back and forth during trading on Thursday, grinding away yet again. However, we are running out of momentum as you would expect, being just below a major level. The $1350 level has caused resistance in the past, and of course the shooting star(Reversal Candle) that we formed during the trading session on Wednesday will have only reinforced that...
Price breaks below major support area 1277.60 that has been holding since late last year December and subsequent in Jan. Feb.
More discount in price is expected to another major support/resistance area 1202.00
Price broke out of an upward treeline @ 0.71538 followed by a pull back by buyers to contest the broken trend line. A struggle movement by buyers confirms that the buyers are done for the sellers to come in.