| Notice on the very short term chart, a 2 hour run, gold has been in a steady decline since the middle of last month with rallies attracting selling at the key resistance levels noted on the chart. Price is currently holding below $1212 – $1210.
Initial resistance begins near $1225 and extends higher towards $1228. Above that lies $1237-$1240. Watch out if that low near $1205 were to give way. There still remain a large number of spec longs in this market. On a percentage basis, this is the largest combined large spec long position going back past 2011...............................................Full Article: Source
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