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Gold - Needs daily close above $1278

FX:XAUUSD   Gold Spot / U.S. Dollar
Gold             took out $1263 levels is now struggling to take out flag resistance at $1278 levels.

Hourly chart

  • hourly chart shows repeated failure to take out/sustain above $1278 levels with stochastic in favor of bears.
  • A technical correction to $1263 levels could be seen.
  • On the higher side, intraday break above $1278 should be followed by a move above $1284 levels as that would invite fresh bids.

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