Gold has broken short term resistance $1263 (61.8% retracement of $1345 and $1130) and it is expected to reach (61.8% retracement of $1391 and $1130)/$1320.
The pair’s minor support is around 1250 (200 day MA) and any break below will take the pair to $1237/$1224.
Short term trend reversal only below $1250.
Indicator (Daily Chart)
CCI (50) – Buy
CCI (14) – Buy
Ichimoku- Buy
Recommendation: Buy Gold around $1265, SL 1250, Target $1292.
The pair’s minor support is around 1250 (200 day MA) and any break below will take the pair to $1237/$1224.
Short term trend reversal only below $1250.
Indicator (Daily Chart)
CCI (50) – Buy
CCI (14) – Buy
Ichimoku- Buy
Recommendation: Buy Gold around $1265, SL 1250, Target $1292.