GOLD: With price weakness seen at the end of the week, further downside is likely in the new week. Nearby support resides at the 1,215.00 level.
Further down, support resides at the 1,180.00 level with a turn below here shifting attention to the 1,150.00 level. Its daily RSI is bullish and pointing lower supporting this view.
Conversely, resistance lies at the 1,375 level where a breach will target 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 medium term.
Guest post by FX Tech Strategy
