FX:XAUUSD   Gold/U.S. Dollar
279 0 1
Gold             is trading around $1272 and $1300 for the past two trading sessions. Overall trend is neutral and any trend reversal can happen only above $1309 level.

On the upside break above $1309 will take the pair to $1320 (23.6% retracement of $1920 and $1130)/1340.

The pair’s minor support is around $1260 and break below will target $1240/$1223

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

Recommendation: We prefer to remain neutral waiting for new confirmation signals.

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