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Major resistance- $1197 (daily Kijun Sen)
The yellow metal has shown a good jump of almost $10 from the yesterday’s low of $1187. Gold hits high of $1197.80 and is currently trading around $1196.25.
Intraday trend is bullish as long as support $1185 (7- day MA) 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 $1187 7- 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.
