Gold is looking for support after a big bearish rally. We can expect some bullish movement from gold at this moment. It found a little support zone at 1215-17. If gold can hold this support, then we can find more bullish movement and pull back for the bullish rally. 1229 level is giving some resistance for this yellow metal. If it can break this barrier then some bullish movement can be seen.
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For buy, we need to wait for breakout 1229 level, then with 40 pips SL, we can take buy entry and target will be 50-110 pips.
For sell, we should wait for some retrace, then sell will be better. 1235-40 zone is good for sell. On the other hand, it gold break 1215, then more sell can be expected on Gold.
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