As you see in my following chart, the price of the gold traded between a high of 1379 and a low of 1360, closed at 1366. Today the metal trades below the resistance line of 1385.
Downside Scenario: As long as the Gold remains below the resistance line of 1385, a decline is likely to be seen into the levels of 1348, then 1336.
Upside Scenario: If the metal penetrates above the resistance line of 1385, this could send the metal to the levels of 1397, then 1410.
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