- Gold made a high of $1210 and is slightly retreated from that level. 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 1213 and any indicative break above would extend gain to $1223/1238. Overall trend reversal only above $1238.
Indicators (4 Hour chart)
CCI (50) – Buy
CCI (14) – Buy
Recommendation: We prefer to remain neutral waiting for new confirmation signals.
The material has been provided by InstaForex Company – www.instaforex.com