Gold was quiet yesterday and today it is chiefly under the influence of the strong USD.
The support rests at 1219.94 with resistance at 1223.07 which both lines are below the weekly pivot point at 1230.10. The EMA of 10 is moving with bearish bias in the descendant channel and it is above the EMA of 100 and the EMA of 200. The RSI is rising towards the 50 level, the Stochastic is moving in low ranges and the MACD line is below the signal line in the negative territory. The ADX is not showing any clear signals. The price is in the Ichimoku Cloud and above the Chinkou Span. The Tenkan-sen and the Kijun-sen are both showing a horizontal trend.
The resistance level breakout will push the price up towards 1225; otherwise, Gold will continue its bearish trend towards 1215.
