FxWirePro
Short

Gold Daily Outlook

FX:XAUUSD   Gold/U.S. Dollar
365 0 4
Gold             has recovered after making a low of $1142 but it is struggling to close above $1182 (20 day MA). Any close above $1182 confirms short term bullishness and jump till $1225 cannot be ruled out.

On the downside minor support is around $1160 and any break below will drag the commodity further down till $1142/$1131.

Indicators ( Daily Chart )

CCI (50) - Sell

CCI (14) - Sell

CCI (14)-Sell

Recommendation: Sell Gold             around $1165-67, SL $1182, Targets $1142/$1131.
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