Gold Close To Resistance

Gold is trading close to resistance in today's session due to both technicals and fundamentals impacting the price movement. As seen on the daily chart, the level of $1,255 is currently acting as a strong resistance and Gold has not yet been able to close above it.

Although, we have witnessed price piercing through resistance, until Gold closes above $1,255, we can expect bears to take control over the Gold market and pull price down to first level of support - $1,222. If this level is broken, second support is seen at $1,214.

As to bulls, their first target is $1,236, second level of resistance that should be taken down - $1,245.

Chart: XAU/USD D1