Gold rallies, breaking above 1236.00 resistance level and approached the top of the latest swing high and resistance at 1268.00. A break above 1268.00 may confirm a short-term bottom and signal a deep bullish correction towards 1300.00 and 1320.00. For the bearish scenario, we need a break back below 1236.00 and the ascending support shown on chart.
Support: 1236.00, 1228.00, 1220.00, 1208.00, 1200.00
Resistance: 1260.00, 1270.00, 1290.00, 1300.00, 1308.00
Recommendation Based on analysis and explanations above, we prefer to be neutral.