GOLD, a new step down!

gold 17.02.

As I wrote in my Gold analysis from February 12., gold bears reached 1205 target today! Could this level hold? Up trendline from December 01. –> January 02. is here, but gold is not on the way up, and that could be a problem. Support at 1205 could be strong and if the level brakes, lower levels are possible. In that case, 1205 could become a strong resistance and  1170/80 is the next target for the bears! Like I said on my last gold analysis, safety is off despite Greece and Ukraine. Strange isn’t it!? But, tecnical works. 🙂

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