GOLD: The commodity may be experiencing price hesitation but continues to hold on to its broader downside bias. Support lies at the 1,226.02 level. Below here will call for a retake of the 1,200.00 level. Further down, support resides at the 1,180.00 level with a turn below here shifting attention to the 1,150.00 level. Its daily RSI is bearish and pointing lower supporting this view. Conversely, resistance lies at the 1,375 level where a breach will target the 1,399.79 level. A cut through here will open the door for a run at the 1,433 level. Further out, resistance resides at the 1,450.00 level, its psycho level. All in all, GOLD remains biased to the downside medium term.
