Gold made a high of $1304.85 and is slightly retreated from that level. Intraday trend is bullish as long support $1280 holds.
On the downside break below $1280 will take the pair to $1262//$1250.
The pair’s minor resistance around $1305 and any indicative break above will target $1317 (61.8% retracement of $1433 and $1130)/1340.
Indicator (4 hour Chart)
CCI (50) – Buy
CCI (14) – Sell
Ichimoku- Buy
Recommendation: Buy Gold around $1280, SL 1262, Target $1317/1340.
On the downside break below $1280 will take the pair to $1262//$1250.
The pair’s minor resistance around $1305 and any indicative break above will target $1317 (61.8% retracement of $1433 and $1130)/1340.
Indicator (4 hour Chart)
CCI (50) – Buy
CCI (14) – Sell
Ichimoku- Buy
Recommendation: Buy Gold around $1280, SL 1262, Target $1317/1340.