Weekly Analysis. Candle is shows tweezers bottoms. From the past price movements, the commodity generally bounce back after a weekly tweezers bottoms.
Daily Analysis. Candles shows a price rejection below 1172. Bounced with volume at 1185.
SMI. Bounced from .50 level
Hold 1200 level and then take out 1212 for a long entry.
Gold has strong short term downward momentum. But since it is near a strong support zone, I find the risk-reward for a short unattractive. Hence, I'm stalking