Looks like an up move started in gold from 1213 is about to finish and the metal is looking for a possible pullback towards 1255-1260 area at least. I have indicated the longer-term and short-term trend. This could be the possible trend in the coming weeks and my longer-term target is above 1400. In the near picture Gold is looking for a pullback and it is a good opportunity to sell around the resistance area I mentioned in the chart. First support lies around 1273 and the second support lies around 1255. This is not the time to be bullish on gold but to wait for a clear pullback towards 1255-1260 area to open Long positions. In the Long-Term Gold is in the Bullish trend and looking for highs above 1400.
Today's Recommendations: Sell around 1293-1300 with stop loss at 1310 and target 1260.
Good Luck..
Today's Recommendations: Sell around 1293-1300 with stop loss at 1310 and target 1260.
Good Luck..