FEB GOLD

Resist: 1607.80-1610.70, 1622.00, 1641.50*
Supprt: 1560.30, 1543.50, 1533.30-1529.40
Comment: The market is bearish, driving washout selloffs to attack the 1543.50 late September low and likely reach for 1533.30. Despite Friday’s minor recovery, recent weak trade favors continuation selloffs. A close under 1529.40 warns for additional washouts, but be on guard for a bounce/bottom off 1533.30-. Any corrections will likely find bear forces trapping the market within last Wednesday’s range. A close over 1641.50* is needed to start a turn into a correction phase