Gold has broken major resistance $1200 and is trading above that level. Short term trend is bullish as long as $1190 holds.
On the downside minor support is around $1190 and any break below will drag the commodity further down till $1179/$1166.
Gold is facing intraday resistance around $1209 and break above would extend gains till $1225/$1236.
Indicators (1 Hour chart)
CCI (50) – Buy
CCI (14) – Buy
Ichimoku- Buy
Recommendation: Buy Gold around $1200, SL $1189, Targets $1224/$1235.
On the downside minor support is around $1190 and any break below will drag the commodity further down till $1179/$1166.
Gold is facing intraday resistance around $1209 and break above would extend gains till $1225/$1236.
Indicators (1 Hour chart)
CCI (50) – Buy
CCI (14) – Buy
Ichimoku- Buy
Recommendation: Buy Gold around $1200, SL $1189, Targets $1224/$1235.