Technical outlook and chart setups:
1. Gold returned from the trend line resistance around $1,280.00 levels as seen here; but the follow through is still missing. A push higher than $1,282.00 levels again would want to challenge $1,300.00 levels. Recommendation is to remain flat for now.
2. Support is at $1,240.00, followed by $1,230.00, $1,210, and lower while resistance is seen at $1,300.00, followed by $1,330.00 and higher respectively.
3. The structure indicates that Gold might change the trend if $1,300.00 is taken from here. It is vital for $1,282.00/85.00 to hold for the down trend to remain intact.
Trading recommendations:
Remain flat, watch out for a reaction around the $1,280.00/82.00 levels.
Good luck!
