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.
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.