- Gold has retreated after making a high of $1219. Short term trend is bullish as long as $1180 (200 day HMA) holds.
- On the downside minor support is around $1180 and any break below will drag the commodity further down till $1168/$1160.
- Gold is facing resistance around $1219 and break above would extend gains till $1230/$1238
Indicators (1 Hour chart)
CCI (50) – Sell
CCI (14) – Sell
Ichimoku- Buy
Recommendation: Buy Gold around $1190 SL $1179, Targets $1219/$1225.
The material has been provided by InstaForex Company – www.instaforex.com