GOLD blocked by the 1254-1258 resistance area

FXStreet (Barcelona) - According to Independent Analyst Vladimir Mihaylov gold remains blocked by the 1254-1258 resistance and unless a strong push higher breaks it, the metal is going to drop further.

Key quotes

“We have support at 1246-1248, breaking below will increase the downside pressure and will target 1234 and below that.”

“To the upside we have a very large H4 negative Ichimoku which will probably reject the upside attempt.”