Sideways on the short term. Wait for break-out.

XAUUSD is basically on a neutral zone at 1,180.50 - 1,218 (4H neutral on RSI = 49.677, ADX = 12.373, CCI = -31.8697, Highs/Lows = 0 and 1D neutral on RSI = 48.091, ADX = 26.626, CCI = 32.9523, Highs/Lows = 0.0000), whose break-out (either direction) will largely define the medium term trend. However due to the underlying correlation with DX and mostly with USDCNY, which both are on a 4H Channel Down, it is more likely at this stage to see Gold on a medium term bullish leg towards 1,267. We are therefore closing the short taken earlier last week and instead go long, first towards 1,218 and if broken continue with SL even towards a 1,236 target.