Gold Daily Outlook

FX:XAUUSD   Gold Spot / U.S. Dollar
358 0 2
Gold             has broken minor support $1220 and is trading near psychological support $1200. In 4 hours chart CCI (50) has formed bearish divergence so slight bounce back till $1240 cannot be ruled out.

On the downside minor support is around $1185 and weakness can be seen only below that level. Any break below $1185 will target $1170.

The minor resistance is around $1210 and nay indicative break above will extend gain till $1225/1240.

Recommendation: Buy Gold             around $1200, SL 1184, Targets $1225/1240.
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