Consolidating around $1230.
• Gold continues its decline after the yellow
metal has faded near the hourly resistance at
1295 (18/04/2017 high). Hourly support is now
located at 1195 (10/03/2017 low). The road is
wide-open for further decline.
• In the long-term, the technical structure
suggests that there is a growing upside
momentum. A break of 1392 (17/03/2014) is
necessary ton confirm it, A major support can be
found at 1045 (05/02/2010 low).
(By Yann Quelenn )