Gold Follows Through Higher On Bullish Recovery

Gold: Having reversed its Monday losses on Tuesday and followed through higher during Wednesday trading session, further strength is expected. On the downside, support comes in at the 1220.00 level where a break will turn attention to the 1210.00 level. Further down, a cut through here will open the door for a move lower towards the 1200.00 level.

Below here if seen could trigger further downside pressure targeting the 1190.00 level. Conversely, resistance resides at the 1245.00 level where a break will aim at the 1255.00 level. A turn above there will expose the 1260.00 level. Further out, resistance stands at the 1270.00 level. All in all, Gold looks to build up on its bull pressure.