GOLD: Continues To Maintain Its Corrective Tone.
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GOLD: The commodity is now facing price hesitation following its past week rally. It will have to hold firmly above the 1,267.00 level to keep its recovery off the 1,180.22 level intact. Further out, resistance resides at the 1,321/38 levels with a cut through here targeting further upside towards the 1,400.00 level, its psycho level. A cap may occur here and turn it lower. On the downside, the risk to this analysis will be a return to the 1,267.00 level. Below here will aim at the 1,180.22 level with a violation of here aiming at the 1,150 level. Further down, support lies at the 1,100 level. All in all, GOLD remains on a corrective recovery.