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Gold Has Strong Support Around 1,200 $

Gold is currently oscillating around 1,200 $, perhaps we're going to witness a short-term horizontal trading period.

The meal has strong support around 1,200 $, which means the next major moves will most likely be either a strong dip or a powerful spike - but, due to the usually bearish spring period and the way the current graphs look, we might be in for a fall. It is certainly more likely than a bullish uptrend.

Bearish analysts expect gold to fall well below 1,100 $ and stabilize around the 1,050 $ level for a while.

One of the best anayses you can find is Gary Wagner's, available here.

According to Wagner, the 1,198 $ level is decisive and from what he says, we can understand that a bearish downtrend is a lot more probably than the start of the next bull market.

Gary Wagner is telling us that the market's bearish forces outweigh the intensity of the bullish factors.

Watch gold's price closely and stay tuned to for further news, updates and analyses!

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