Spot Gold fell to new one-year low at $1221 on Wednesday, in extension of previous day’s strong bearish acceleration after hawkish Fed boosted dollar.
Bears generated fresh signals on break below $1236 (Former trough of 12 Dec) and $1234 (weekly 200SMA) for test of next pivotal support at $1215 (Fibo 61.8% of $1122/$1366 uptrend).
Oversold daily studies warn of corrective action in coming sessions, but so far without firmer signal.
Falling 10SMA ($1244) should limit upticks to keep broader bears intact.
Res: 1229; 1237; 1244; 1252
Sup: 1221; 1215; 1204; 1200
