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Gold – watch out for a break above $1287

FX_IDC:XAUUSD   GOLD / US DOLLAR
Daily Chart

Resistance - $1287, $1300-1303, $1310

Support - $1280, $1270, $1263

  • Gold dipped to $1278 levels before recovering above flag resistance level of 1280 levels.
  • With daily RSI sitting well above 50.00 and prices comfortably above key support level of $1263, we may see a break above $1287 (daily high).
  • In such a case, prices may head higher to $1295-1300 area.
  • On the downside, $1263 stands as a major support.

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