Intraday trend-Bullish
Gold is trading in narrow range around 1183 to 1230 for the past four trading. It has formed temporary top around $1238 .Further bullishness can be seen only above $1238.
It is facing minor resistance around 1223 and any break of will target $1238 Dec 12th high) and $1255.
The gold is facing major support at $1178 (median line). On the downside break below $1178 will target 1160/1142.
CCI (50) – Buy
CCI (14) – Buy
Ichimoku- Buy
Recommendation: Buy gold around $1200, SL $1185, Target $1238/1255.
Gold is trading in narrow range around 1183 to 1230 for the past four trading. It has formed temporary top around $1238 .Further bullishness can be seen only above $1238.
It is facing minor resistance around 1223 and any break of will target $1238 Dec 12th high) and $1255.
The gold is facing major support at $1178 (median line). On the downside break below $1178 will target 1160/1142.
CCI (50) – Buy
CCI (14) – Buy
Ichimoku- Buy
Recommendation: Buy gold around $1200, SL $1185, Target $1238/1255.