Gold has once again recovered till $1208 after making a low of $1183. It is likely to face strong resistance around $1212 and intraday trend reversal can happen only above that level.
On the upside short term resistance is around $1212 and any break above would extend gains till $1225.
The commodity minor support is around $1195 and break below will target $1178/1173.
Indicators (1 Hour chart)
CCI (50) - Buy
Woodies CCI (14) - Neutral
Ichimoku - Neutral
We prefer to Sell Gold around $1210, SL $1225, Target $1178.
On the upside short term resistance is around $1212 and any break above would extend gains till $1225.
The commodity minor support is around $1195 and break below will target $1178/1173.
Indicators (1 Hour chart)
CCI (50) - Buy
Woodies CCI (14) - Neutral
Ichimoku - Neutral
We prefer to Sell Gold around $1210, SL $1225, Target $1178.