We will reserve this level as our near-term bullish invalidation level with the focus weighted to the topside while above 1262. Topside resistance targets are eyed at $1280 & 1294 with a breach of the highs targeting key resistance at 1320. A break sub-1262 invalidates the long bias with such a scenario targeting subsequent support targets at $1248 & 1237. About the author Michael Boutros Michael Boutros is an expert trader with a focus on intraday http://www.wsj.com/articles/canadian-lenders-digest-central-banks-shock-rate-cut-move-1421963998 trading strategies and short-term analysis. http://www.cfdtrading.com/gold-technical-outlook-012915/
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