Gold tests support at $1180

Spot gold retreated to test medium-term support at $1180/ounce. Breach of support would indicate a test of the primary level at $1140. 13-Week Twiggs Momentum peaks below zero suggest a primary down-trend. Failure of $1140 would offer a target of $1000*.

Spot Gold

* Target calculation: 1200 – ( 1400 – 1200 ) = 1000

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