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Gold eyes $1200
Gold recovered the $1200 level overnight but is encountering difficulty holding on to this key area. A failure to push higher leaves the downtrend from $1220 intact, and we would look to $1174 and $1153 as first targets.
A push back above $1200 would be a positive sign, but the price will need to reclaim $1220 and then break higher to suggest that a fresh bullish move is underway.