Gold is consolidating lower. The commodity has broken support at 1254 (27/07/2017 low)/ Strong support is given at 1204 10/07/2017 high). Hourly resistance is given at 1274 (01/08/2017 high). Expected to see further bearish pressures.
In the long-term, the technical structure suggests that there is a growing upside momentum. A break of 1392 (17/03/2014) is necessary ton confirm it, A major support can be found at 1045 (05/02/2010 low)
