Gold closed at USD1,313.13/oz. The price continues to hold above its MAs, rebounding
back from the support level at USD1,276. Knowing that remaining above this should keep the
outlook positive, while a close above the tiny resistance level at USD1,346 would increase the
chances of targeting the resistance area at USD1,366-USD1,390 and maybe USD1,433. On the
negative side, a dip below USD1,276 would trigger additional downward correction to USD1,250
(50% level of the Fibonacci Retracements from USD1,159-USD1,346) and maybe more to
USD1,232 (61.8% level).