Gold moves within the same trading range seen yesterday, but 1219.00 offered support, which is positive signal.
Gold Chart
However, 1242.00 becomes a resistance and it should be breached to affirm the bullishness.
ADX shows some negativity, while RSI is close to 70.00 levels, which may cause fluctuation and some corrections, but we remain bullish based on stability above 1219.00.
A break above 1242.00 will bring a test of 61.8% Fibonacci at 1260.30.
Support: 1230.00 – 1225.00 – 1219.00
Resistance: 1242.00 – 1255.00 – 1261.00
Direction: Bullish
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