16 Jan Thursday View

Gold closed lower again yesterday at USD 1240, slightly breaching the daily uptrend that has been in place since the USD 1182 low on December 30. Support is at recent lows USD 1235 and USD 1218. The short term uptrend still looks constructive looking at the holding rising trend line in the H4 chart, despite yesterday's lower close, so long as support USD 1218 holds. Resistance is at USD 1268 high, and a break and hold of this level would turn the view to Bullish.

Trade Happy, Trade Safe :)