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Major resistance- $1196 (10- day MA)
Bullish divergence - CCI(50) daily chart
The yellow metal has shown a good jump of almost $15 from the yesterday’s low of $1182. Gold hits high of $1196.25 and is currently trading around $1195.76.
Intraday trend is bullish as long as support $1183 holds. The near term intraday resistance is around $1196 and any break above targets $1200/$1207.
On the lower side, in the daily chart next immediate support is around $1183 5- day MA and $1178/$1173/$1170.
It is good to buy on dips around $1188-90 with SL around $1183 for the TP of $1207.
