- Gold has recovered till $1198 after making low of $1170. Overall trend is neutral and market is waiting for further confirmation.
- On the downside Minor support is around 1185 will take the commodity to 1160/1138 in short term.
- The minor resistance is around 1205 and any indicative break above would extend gain to $1213/1223. Overall trend reversal only above $1238.
Indicators (4 Hour chart)
CCI (50) – Sell
CCI (14) – Sell
Recommendation: We prefer to remain neutral waiting for new confirmation signals.
The material has been provided by InstaForex Company – www.instaforex.com