FxWirePro
Short

Gold Daily outlook

FX:XAUUSD   Gold Spot / U.S. Dollar
244 0 1
Gold             has formed double top around $1225 and any trend reversal only above that level. Any break of $1225 could open the way for another test of $1236 (R2 Feb 16th high).

On the downside $1200 (S1) is minor support and any break below will drag the commodity to $1190/$1170.

Indicators (1 hour chart)
CCI (50) – Sell
CCI (14) – Sell
Ichimoku- Sell

Recommendation: Sell Gold             around $1209, SL 1225, Target $1171.



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