Tests support area
The price of gold has dipped below the $1300 level for the first time since January 28th.
The area - down to 1298.60 area - is a support target (see earlier post). The dollars is moving higher and that is helping to send the precious metal lower (the dollar was lower at the start of the NY session).
Will the support hold?
What we know is the area is a low risk level that give traders some cause for pause. Stay above sellers may shift to buyers. If broken, get out.
