Gold outlook - eyes 100-DMA support at $1211
Despite Friday's recovery from the low of $1222.70, the subsequent failure to get back above the rising trend line (red) in the Asian session today would add credence to the breach of the rising trend line and the bearish break on the RSI and open doors for 100-DMA support of $1211.
On the higher side, only a daily close above $1244.71 (Feb 8 high) would signal bearish invalidation.
On the higher side, only a daily close above $1244.71 (Feb 8 high) would signal bearish invalidation.
