Gold trades bullishly, approaching the awaited target today, but we need to witness a stable move above 1281.00 to extend the bullishness above 1272.00.
Gold inclined after failing to stabilize below 1259.00 with a four-hour closing, while the daily closing was achieved above SMA20.
We believe that, gold will attempt to take out 1281.00, which is important level and failing to stabilize above it will be neutral.
ADX shows increase in bulls’ power, while RSI moves above 50.00 levels.
Support: 1259.00 – 1250.00 – 1242.00
Resistance: 1272.00 – 1281.00 – 1295.00
Direction: Bullish attempt
