Gold pushed once again towards 1220.00 level at the 161.8 Fibonacci extension, but bounced again above 1240.00. The short term bullish rebound scenario is still valid, as price has gone excessively oversold where RSI hints extreme conditions over different time horizon, RSI is also showing a bullish divergence.

Support: 1225.00, 1218.00, 1210.000, 1200.00, 1185.00
Resistance: 1240.00, 1252.00, 1275.00, 1290.00, 1300.00
Recommendation Based on the charts and explanations above, we prefer to long gold above 1220.00 targeting 1250.00 and 1275.00. Stop loss with hourly closing below 1208.00

Support: 1225.00, 1218.00, 1210.000, 1200.00, 1185.00
Resistance: 1240.00, 1252.00, 1275.00, 1290.00, 1300.00
Recommendation Based on the charts and explanations above, we prefer to long gold above 1220.00 targeting 1250.00 and 1275.00. Stop loss with hourly closing below 1208.00