Gold has been trending downwards since the 24th of February 2016, with the bears leading the price from as high as 1253.40 to as low as 1211.47.
During the early US session, the precious metal price fell aggressively from 1238.21 down to 1211.47. In the event that the buyers manage to gain momentum and push the price above 1221.51, the price could reach 1232.14 and 1237.34 respectively.
On the other side, where the sellers keep exerting strong pressures and the price breaks below 1205.53, the price could decelerate down to 1190.69.
Please note: The content in this daily technical analysis article should not be taken as investment advice. It comprises our personal view.