As we advised last week and as we see from our previous chart; Gold managed to hold its position above the support zone of 1322-26. As long as Gold keeps trading above this zone, more advances to test the 1350-55 zone are expected.
Below the 1322 point it is possible for a larger drop to hit the market, towards the 1310 point. It’s even possible to drop as low as the 1300 point.
As we can see on the chart, the zone of 1350-55 may provide the market with another drop correction wave, while above the 1355 point it is possible for further advances towards the 1375 point, which is expected.