Gold Daily Outlook

FX:XAUUSD   Gold Spot / U.S. Dollar
302 2 3
Gold             is in consolidation phase around $1212 and $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 $1198 and break below will target $1183/1178.

Indicators (1 Hour chart)

CCI (50) - Buy

Woodies CCI (14) - Neutral

Ichimoku - Neutral

We prefer to buy at dips around $1200 with stop around $1194 for the target of $1212.
my view is short!!
1212 is very strong resistance , general view is trend going down wards. if stay under the 1212 it will be going 1180...
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