Gold Daily Outlook

FX:XAUUSD   Gold Spot / U.S. Dollar
266 0 2
Gold             is trading above $1200 (20 day 4HMA) and it indicates short-term bullishness a jump till $1244 cannot be ruled out.

On the downside any intraday trend reversal can happens only below $1200.Below $1200 it can reach till $1190/$1178.

The short term resistance is around $1225 and any break above will extend gains till $1244 ( 61.8% retracement of 1307 and 1142).

Indicators (4 Hour chart)
CCI (50) - Buy
CCI (14) - Buy
CCI (14)-Buy

Recommendation: Buy Gold             around $1210, SL $1199, Target $1243.

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