Technical Analysis and Outlook
The precious metals market - Gold could not expand above primary first Mean Res $1,514 while the other two-stars resistance levels Mean Res $1,533 and Key Res $1,550 are looming above.
Once the Gold began reversing yesterday morning, it took out the first Men Sup at $1,487 as the heavy selling picked up. The critical support levels now only come in at Maginot Line $1,475 and significant Key Sup $1,473 (BARC). This is a price level that the bulls and bears will once again stage a considerable battle.