Gold Daily Outlook

FX:XAUUSD   Gold Spot / U.S. Dollar
356 0 2
Gold             has broken short-term trend line resistance $1282 ( trend line joining 1307 and 1297.46). Intraday trend is bullish as long as support $1263 holds.

Gold             made a low till $1266 and once again recovered from that level. On the upside minor resistance is around $1282 and on break of will target $1300 and $1309 level.

The minor support is around $1263 and any break below will take the pair to $1250/$1238

Indicators (60 min chart)
CCI (50) - Buy
CCI (14) - Buy
Ichimoku- Buy

Recommendation: Buy gold             around $1275, SL $1263, Targets $1297/$1306.
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