• Major support - $1225 (21- day EMA)
   
• Major resistance - $1245 (Feb 8th high)
   
• The yellow metal is trading in narrow range between $1243.85 and $1226 for the past four trading sessions. It is currently trading around $1236.
   
• FOMC minutes meeting shows that hike can be expected in the Mar month as labor market and inflation was stronger than expected.
   
• U.S dollar index has slightly declined once again from the high of 101.72. The index is facing strong double top around 101.73 and any further bullish continuation only above that level.  
   
• Gold major resistance is around $1245 (200- WMA) and any break above targets $1262 (200-day MA)/ $1278 (61.8% retracement of $1375 and $1122) is likely.
   
• On the lower side, minor support are around $1233 (10- day MA) and any indicative break below targets  $1227 (61.8% retracement of $1216 and $1243.85)/$1222 (21- day EMA)/$1212 (daily Kijun-Sen).
  
  It is good to buy above $1245 with SL around $1235 for the TP of $1262/$1278