Gold has recovered after making bottom around $ 1255. The further weakness in gold can be seen only below $1250.
On the downside break below will target $1240/$1225.
Gold minor resistance around $1273 and break of will push the commodity to $1285/$1300.
It is good to sell on rallies around 1275 for the target of $1250/1241.
Indicators (60 min chart)
CCI (50) - Sell
CCI (14) - Buy
Ichimoku- Neutral
Recommendation: Sell Gold around 1275, SL $1285, Targets $1255/$1241 .
On the downside break below will target $1240/$1225.
Gold minor resistance around $1273 and break of will push the commodity to $1285/$1300.
It is good to sell on rallies around 1275 for the target of $1250/1241.
Indicators (60 min chart)
CCI (50) - Sell
CCI (14) - Buy
Ichimoku- Neutral
Recommendation: Sell Gold around 1275, SL $1285, Targets $1255/$1241 .