GOLD: Bearish, Vulnerable To The Downside.
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GOLD: The commodity remains vulnerable to the downside having declined the past week. The risk is for more downside to occur towards the 1,272.00 level. A violation of here will aim at the 1,250.00 level with a turn below here shifting attention to the 1,215.00 level and next the 1,180.00 level. Conversely, resistance lies at the 1,399.79 level. A cut through here will open the door for a run at the 1,433 level. Further out, resistance resides at the 1,450.00 level, its psycho level. All in all, GOLD remains biased to the downside.