• The yellow metal traded higher on Tuesday, as investors appetite for risker assets cooled as US stocks opened higher. The commodity rebounded strongly after finding support at 1090 in the early European session, and currently is approaching to test resistance level located at 1218. 
  
  
• Any downside is expected to be limited around 1195 levels as the support level located at 1194 is likely to hold the bears from falling further below and bring a rebound back towards higher levels.
  
  
• Technically in the 1 hour chart the 55, 30 and 20 MA slowly turning up, whistle the RSI is in slightly positive territory at 51.
  
  
• To the upside, the strong resistance can be seen 1218, a break above this level would expose the commodity towards 1234 levels."
  
  
• To the downside immediate support can be seen at 1194, a break below at this level will open the door towards 1180 levels.
  
  Recommendation: Go long around 1200, targets around 1220/1250, SL 1170
  
  Support levels: S1-1194, S2-1180, S3-1162
  
  Resistance levels: R1-1218, R2-1234, R3-1254