Gold has potential put in place a higher low at 1306 (24/09/2013 low), suggesting weakening short-term selling pressures. An initial resistance is given by the declining trendline (around 1355). Another resistance stands at 1376.

The medium-term technical configuration remains biased to the downside given the break of the rising channel and the longer term bearish trend. Key supports are at 1268 and 1181, while a key resistance stands at 1434.

Daily Technical Report