The gold is currently using 1100 as resistance (key level close to the fiboancci retracement 61.80% towards 1103). The lowest reached on December 30th 2009 are now acting as support (towards 1090). As far as the price is below 1100, we maintain to trade only short positions. If the last highest at 1105 is broken, it could be possible to enter long with 1125 as objective (retracement fiboancci 50%).