Gold Daily Outlook

FX:XAUUSD   Gold Spot / U.S. Dollar
316 0 2
Gold             has broken short term resistance $1263 ( 61.8% retracement of $1345 and $1130) and it is expected to reach ( 61.8% retracement of $1391 and $1130)/$1320.
The pair’s minor support is around 1250 (200 day MA) and any break below will take the pair to $1237/$1224.
Short term trend reversal only below $1250.

Indicator ( Daily Chart )
CCI (50) – Buy
CCI (14) – Buy
Ichimoku- Buy

Recommendation: Buy Gold             around $1265, SL 1250, Target $1292.

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