Gold extended the rebound, approaching 1270.00 previous low and expected resistance level, the price completed a minor inverted head and shoulders pattern and thus hints for further upside within the upcoming period. Accordingly, we maintain our bullish view over intraday basis.
Support: 1248.00, 1234.00, 1225.00, 1210.00, 1200.00
Resistance: 1270.00, 1275.00, 1290.00, 1300.00, 1308.00
Recommendation Based on the charts and explanations above, we prefer to long gold above 1248.00 targeting 1269.00 and 1300.00. Stop loss below 1232.00