GOLD: The commodity continues to recover higher having triggered a recovery off the 1,321.79 level. This development leaves GOLD targeting the 1,495.00 level where a cap is likely to occur and turn it back down. However, if this level is broken, further upside is likely to occur towards the 1,590.40 level. Further out, resistance resides at the 1,619 level. Its daily RSI is supportive of this view. On the downside, support comes in at the 1,448 level where a breach will aim at the 1,404.00 level. On a violation of here, further decline could follow towards the 1.385 level and then the 1,321.79 level. All in all, GOLD remains on corrective recovery mode.
