| The gold market is trying to take a stand following recent weakness. Thus far, the gold market has bottomed out around the $1210 level. The market does, however, appear headed towards another retest of the $1185-$1200 areas. The gold market has held this area on two occasions already in the last year or so, but may not be able to take the pressure another time around.
A breach below this area could potentially ignite a new, significant leg lower in gold prices. Of importance is the fact that gold is in the midst of completing a large descending triangle. A break down out of this technical pattern could potentially see gold fall another $200 from current levels...............................................Full Article: Source
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