Fed Meeting Minutes which was released late Wednesday influenced Gold along with Non-Farm Payrolls and inflation reports in the US.
The support rests at 1255.07 with resistance at 1261.59 which both lines are above the weekly pivot point at 1248.47. The EMA of 10 is moving with bearish bias and it has passed the EMA of 200 but they are both above the EMA of 100. The RSI is moving horizontally above the 50 level, the Stochastic is showing upward momentum and the MACD indicator is in neutral territory. The ADX is not showing any clear signals. The price is above the Ichimoku Cloud and below the Chinkou Span. The Tenkan-sen and the Kijun-sen are both showing a horizontal trend.
Long positions are recommended targeting 1268.30.

gold analysis