FxWirePro

Gold Daily Outlook

Long
FX:XAUUSD   Gold Spot / U.S. Dollar
8
Intraday trend-Bullish
Gold is trading in narrow range around 1183 to 1230 for the past four trading. It has formed temporary top around $1238 .Further bullishness can be seen only above $1238.
It is facing minor resistance around 1205 and any break of will target $1223/$1238 Dec 12th high).
The gold is facing major support at $1178 ( median line ). On the downside break below $1178 will target 1160/1142.

CCI (50) – Sell
CCI (14) – Buy
Ichimoku- Sell

It is good to buy at lower levels .
Recommendation: Buy gold around $1190, SL $1178, Target $1223/1238.