Gold has made a high of $1244and is slightly retreating from that level .Short term trend is bullish as long support $1209 holds.
On the upside break of $1244 will take the pair to $1255 (21st Oct high)/1263 (61.8% retracement of $1342 and $1132.90).
The Gold is facing intraday support is around $1230 and any break below will target 1217/$1210(Median Line)
Short term trend reversal only below $1205 (Jan 8th low).
Indicator (4Hour Chart)
CCI (50) – Buy
CCI (14) – Sell
Ichimoku- Neutral
Recommendation: Buy Gold around $1222-25, SL 1210, Target $1255/1263.
On the upside break of $1244 will take the pair to $1255 (21st Oct high)/1263 (61.8% retracement of $1342 and $1132.90).
The Gold is facing intraday support is around $1230 and any break below will target 1217/$1210(Median Line)
Short term trend reversal only below $1205 (Jan 8th low).
Indicator (4Hour Chart)
CCI (50) – Buy
CCI (14) – Sell
Ichimoku- Neutral
Recommendation: Buy Gold around $1222-25, SL 1210, Target $1255/1263.