In GOLD, short term buyers and middle term sellers has been fighting for a while and none got a victory yet. Meanwhile, below 1192.70, bears seem more powerful. During a couple of weeks, we could not point out any clear direction in GOLD, so traders must be careful with this commodity until a clear breakage occurs. Especially movements out of 1225 – 1168 band will give us a clear info for the trend.
For the short term intraday, 1192.70 resistance is important and under this level there will be more bearish pressure on GOLD. If so, GOLD may get down till 1179.80 and below that level, 1168 won’ be surprise.
Please trade safe, always use stop loss.