FxWirePro: Gold rallies towards 1255 but reversal is likely

Gold has inched higher on Tuesday as investors sought safe heaven assets after deadly bomb attacks hit Brussels airport.

Currently the yellow metal has rebounded towards 1255 levels after finding resistance at 1240.

Further upside is set to be limited as the resistance formed at 1270 is set to hold the bulls from advancing further and bring decline towards lower levels.

To the upside, the immediate resistance can be seen 1260, a break above this level would expose the commodity towards 1270 levels.

To the downside immediate support can be seen at 1077, a break below at this level will open the door towards 1072 levels.

Support levels: S1-1247, S2-1240, S3-1233

Resistance levels: R1-1260, R2-1270, R3-1279