Terrorism in Brussel has pushed gold to 1260!
But the technical resistance has stoped the growth and return the gold down to 1250, exactly at the H4 MA100, where the precious metal has settle down now. After the FED’s decision to stay on hold and dowish stance from Yellen, the precious metal reached 1265/70 and that was the level where the sellers have took over, returning the gold down slowly. 1240/41 was yesterday’s support, where gold buyers have manage to return the price up just before the Brussel attacks, after wich the fear factor boost the price up to 1260 in the morning. The precious metal was looking bearish for three days in a row and it’s possible to remain in that mode in this week, despite this terrorist attacks and fear in the moment. On the way back down, 1240 is first support, 1225 the second one, 1210/15 the strong one.
Forex Trader 