Gold price has pulled back into the resistance area at 1225.46-1231.64. Today's preference remains bearish with target at 1221.63-1215.45. However, pull-back move may re-occur to within the resistance area before bearish move continues.

Gold price has pulled back into the resistance area at 1225.46-1231.64. Today’s preference remains bearish with target at 1221.63-1215.45.  However, pull-back move may re-occur to within the resistance area before bearish move continues.

Be careful if the resistance at 1231.64 breaks, because it will turn the intraday bias into bullish and potentially will be followed by a move up to 1235.47-1241.65.

GOLD