Gold Daily Outlook

FX:XAUUSD   Gold Spot / U.S. Dollar
Intraday trend-Bearish
Gold is trading in narrow range around 1187 to 1230 for the past four trading. It has formed temporary top around $ .Further bullishness can be seen only above $1238.
It is facing minor resistance around 1207 and any break of will target $1223 (Dec 16th high) and $1238 (.
The gold is facing major support at $1178( median line ). On the downside break below $178 will target 1160/1142.

CCI (50) – Sell
CCI (14) – Sell
Ichimoku- Sell

Recommendation: Sell gold around $1200, SL $1209, Target $1185/1178.


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