Gold - Daily - Tricky level.

TVC:GOLD   CFDs on Gold (US$ / OZ)
Last week I mentioned about watching how the week will close and what candle it will form. So it has formed a bearish Hammer (red bodied). Even though, it isn't sometimes considered as a reversal, I think this time it could be.
Certainly, it is difficult to say right now, until we test that steep trend line , from which Gold has bounced of last week. I think that level will be key.

For now, I believe we might get a bit lower, to about 1280 level. Then we will have to re-assess the situation and have a better look on what it wants to do.

As always, keep an eye on the price action!
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