FxWirePro
Long

Gold Daily outlook

FX:XAUUSD   Gold/U.S. Dollar
352 0 1
Gold             has slightly recovered after making low of $1195 and overall trend is still bullish as long as support $1190 holds.

On the upside Gold             is facing resistance around $1214(100 day MA)-$1217(20 day MA) and on break above would extend gains to $1225-$1230.

The commodity is facing support around $1190 and any further weakness can be seen only below that level.

Indicators ( Daily chart )
CCI (50) – Sell
CCI (14) – Sell
Ichimoku- Neutral

Recommendation: Buy Gold             around $1200, SL $1188, Targets $1215/$1224.

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