Gold Daily Outlook

FX:XAUUSD   Gold Spot / U.S. Dollar
266 0 1
Gold             has recovered after making bottom around $ 1255. The further weakness in gold             can be seen only below $1250.

On the downside break below will target $1240/$1225.

Gold             minor resistance around $1275 and break of will push the commodity to $1285/$1300.

It is good to sell on rallies around 1265-70 for the target of $1250/1241.

Indicators (60 min chart)
CCI (50) - Sell
CCI (14) - Buy
Ichimoku- Neutral

Recommendation: Sell Gold             around 1265-70, SL $1285, Targets $1255/$1241.
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