Gold has closed above 20 day MA for two consecutive days and this confirms short term bullishness a jump till $1225 cannot be ruled out.
On the downside minor support is around $1167 and any break below will drag the commodity further down till $1160/$1152.
Gold is facing intraday resistance around $1193 and break above would extend gains till $1210/$1225.
Indicators (Daily chart)
CCI (50) – Sell
CCI (14) – Buy
Ichimoku- Buy
Recommendation: Buy Gold around $1180, SL $1167, Targets $1209/$1223 .
On the downside minor support is around $1167 and any break below will drag the commodity further down till $1160/$1152.
Gold is facing intraday resistance around $1193 and break above would extend gains till $1210/$1225.
Indicators (Daily chart)
CCI (50) – Sell
CCI (14) – Buy
Ichimoku- Buy
Recommendation: Buy Gold around $1180, SL $1167, Targets $1209/$1223 .