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Gold Respecting Falling Trendline and 1300

Falling trendline/resistance:
Gold rallied back toward 1300, but failed to push above this level, which was reinforced by a falling trendline that connects the pivots:
1) 1392
2) 1331
3) 1306

(gold 1h chart, 4/29)

The 1H chart shows the stochastic at 80 and RSI at 60. If yesterday's bearish swing continues, we may have another attempt coming up. The bearish outlook has 1275 and 1268 in sight. 

Bullish outlook:
If the market pushes above 1300 it will be threatening the 1306 high, which also suggests that the market is turning bullish at least in the short-term, with 1331 as the first resistance/target. 

1300-1306 is Key
A slew of key fundamental data will be coming out the rest of the week. It would be interesting to see if gold price will be trading north or south of the 1300-1306 pivot area after all is said and done this week.