Gold trades well above $1200, jump till $1234 likely

OANDA:XAUUSD   黃金 / 美元
262 1 6
Major resistance - $1207 (Jan 12th high).

Major support - $1189 (7- day EMA ).

The yellow metal rose to eight week high as Brexit worries increased the demand for safe haven. Gold             breaks the recent high of $1207 and jumped till $1210.74 at the time of writing and is currently trading around $1212.

Market awaits for U.K PM Theresa May speech in which she is expected to to discuss plans for a “Hard Brexit”.

Gold             major resistance is around $1216 (89- day EMA ) and any break above targets $234/$1247 ( 50% retracement of $1375 and $1122) in the short term.

On the lower side, immediate support is around $1189 (7- day EMA ) and any indicative break below targets $1176 (30- day EMA )/$1165 (daily Kijun-Sen)/$1156 ( 61.8% retracement of $1122 and $1212.44).The minor support is around $1199.

It is good to buy on dips around $1207-$1209 with SL around $1199 for the TP of $1224/$1234

i am not agree i think short from 1215 to till 1198 1190 area no more chance up
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