As you see in my following attached chart, the price of the gold traded between a high of 1336 and a low of 1316, closed at 1336. Today the metal trades below the resistance line of 1347.
Downside Scenario: As long as the Gold remains below the resistance line of 1344, a decline is likely to be seen into the levels of 1320, then 1305.
Upside Scenario: If the metal penetrates above the resistance line of 1347, this could send the metal to the levels of 1359, then 1371.
[IMG]3.bp.blogspot.com/-BiLAAx_4sEs/UgyTDRHlC4I/AAAAAAAAJvU/wBijd0c1zLQ/s1600/gold.jpg[/IMG]


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