Gold is back down testing trend line support at the $1555 level. The precious metal has spent the last few months moving up and down as the global turmoil plays out. With the up and down volatility, I would expect traders should be buyers against the level with stops on a move below. Risk is defined and limited. Shorts have a reason to take some profits.
A move above (and staying above) the 1562 level would be an indication that the shorts are losing some intraday control to the dip buyers (see yellow area in the chart below).
