GOLD, 1237/42 on test again!

mario urlic forex gold 14.03.

Gold fell back to the support at 1237/42 for the third time in the last 4 trading days and it looks as it could be broken now. After the ECB’s messures on Thursday, buyers have tried to brake 1274/79 and they didn’t manage. The resistance was to strong and the gold returned down on Friday strong, continued to decline today as well. If this level breaks, next possible target for the sellers could be 1210/15. I don’t expect from buyers to try again from this level, it looks to me that they have retreet lower!?

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