Gold Will Likely Start Falling Again

After yesterday’s fundamentals Gold has moved to the upside again and is currently testing $1,260, but so far that level of resistance remains unbroken. In my opinion, it will remain that way at least until the end of the week. Since range continues for now, Gold will likely bounce off the resistance and start moving to the downside towards the support at $1,220, and if it breaks below that level it will continue towards $1,200, which coincides with (MA)89 on the daily time-frame. More importantly, the spinning top candlestick that is visible on the monthly time-frame is still valid, so the possibility that Gold might make a more significant move to the downside remains open.