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Short

Gold Daily Outlook

FX:XAUUSD   Gold Spot / U.S. Dollar
267 0 1
Gold             has once again retreated after making a high of $1206.80.

Intraday trend is bearish as long as $1202 (200 day 15 Min MA) holds

On the upside short term resistance is around $1202 and any break above would extend gains till $1206/$1212.

The commodity major support is around $1185 and break below will target $1178/1173.

Indicators (15 Min chart)

CCI (50) - Sell

Woodies CCI (14)- Sell

Ichimoku - Sell

Recommendation: Sell Gold             around $1194, SL $1202, Target $1178.
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