Will Gold Continue Rising?

Although I thought that Gold would continue falling towards $1200 it found support at $1207 and bounced off that level. If this move to the upside continues it is likely that Gold’s next target is around the resistance at $1246 – $1250. On the other hand, if it tests the support at $1200 again and manages to break below that level, it will likely continue falling towards the next level of support, which is at $1180 and coincides with (MA)89 on the daily time frame. Either way, we will have to wait until the market becomes a bit more volatile to know which scenario is more valid. Hopefully that will happen in the following days.