FxWirePro
Short

Gold Daily Outlook

FX:XAUUSD   Gold/U.S. Dollar
299 0 2
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.




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