Gold is trading around $1193 with short term bias remain positive and jump till $1225 cannot be ruled out. It is also trading well above Tenken-Sen,Kijun-Sen and also above short term MA (20 day MA).
On the downside minor support is around $1180 and any break below will drag the commodity further down till $1168/$1160.
Gold is facing intraday resistance around $1195 and break above would extend gains till $1210/$1225.
Indicators (Daily chart)
CCI (50) – Sell
CCI (14) – Buy
Ichimoku- Buy
Recommendation: Buy Gold around $1190, SL $1179, Targets $1209/$1223.
On the downside minor support is around $1180 and any break below will drag the commodity further down till $1168/$1160.
Gold is facing intraday resistance around $1195 and break above would extend gains till $1210/$1225.
Indicators (Daily chart)
CCI (50) – Sell
CCI (14) – Buy
Ichimoku- Buy
Recommendation: Buy Gold around $1190, SL $1179, Targets $1209/$1223.