Spot Gold broke below strong supports at $1236/35 (26 June low / 200SMA) of strong bearish acceleration on Monday, signaling bearish continuation. Fresh bears cracked next support at $1233 (Fibo 76.4% of $1214/$1298 rally) and may travel to $1230 (16 May low) and $1225 (lower 20-d Bollinger band) in extension. Close below 200SMA is needed to confirm bearish scenario and turn focus towards key short-term support at $1214 (09 May low). Former low at $1240 now acts as initial resistance, followed by session high at $1242 and daily Tenkan-sen/cloud base at $1246.
Res: 1240, 1242, 1246, 1249
Sup: 1230, 1225, 1217, 1214
