Gold is looking likely to fade slightly lower in the short-term with one technical indicator – CCI – continuing to flash an overbought signal for the precious metal. The recent one-month high made yesterday, pushed the CCI indicator to its highest level since late-February when the price of gold was trading more than $1,340/oz. Any short-term sell-off will likely be constrained by support at $1,292/oz. ahead of the 61.8% Fibonacci retracement level at $1,287/oz. Below there, old horizontal support levels at $1,281/oz. and $1,277/oz. come into play. How to Trade Gold: Top Gold Trading Strategies and Tips GOLD (XAU) ... (full story)