Gold has broken major resistance $1238 (Dec 10th high) and it confirms short term bull trend has started. It is expected to reach $1255 (21st Oct high)/1263 (61.8% retracement of $1342 and $1132.90). The Gold is facing intraday support is around $1230 and any break below will target 1217/$1210(Median Line) Short term trend reversal only below $1205 (Jan 8th low).
Indicator (1 Hour Chart) CCI (50) – Buy CCI (14) – Sell Ichimoku- Buy
Recommendation: Buy Gold around $1222-25, SL 1210, Target $1255/1263.