GOLD: With the commodity remaining vulnerable to the downside on correction, more weakness is likely.
On the downside, support comes in at the 1,220.00 level where a break will turn attention to the 1,200.00 level. Further down, a cut through here will open the door for a move lower towards the 1,210.00 level. Below here if seen could trigger further downside pressure targeting the 1,200.00 level.
Conversely, resistance resides at the 1,240.00 level where a break will aim at the 1,250.00 level. A turn above there will expose the 1260.00 level. Further out, resistance stands at the 1,270.00 level.
All in all, gold looks to weaken further.
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