Gold Daily Outlook

FX:XAUUSD   Gold Spot / U.S. Dollar
Gold has broken major resistance $1238 (Dec 10th high) and it confirms short term bull trend has started. It is expected to reach $1255 (21st Oct high)/1263 ( 61.8% retracement of $1342 and $1132.90).
The Gold is facing intraday support is around $1230 and any break below will target 1217/$1210( Median Line )
Short term trend reversal only below $1205 (Jan 8th low).

Indicator (1 Hour Chart)
CCI (50) – Buy
CCI (14) – Buy
Ichimoku- Buy

Recommendation: Buy Gold around $1228-30, SL 1217, Target $1255/1263.


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