Gold Daily Outlook

FX:XAUUSD   Gold Spot / U.S. Dollar
265 0 4
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.

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