•Gold price upside might be limited as ECB has a chance more hawkish agenda this week. U.S bond yields shown dip after delay in Trump health care.
•Technically gold is trading well above major resistance $1230 (200- day MA) and a follow up buying is expected.
•CHF/JPY has 62% negative correlation with Gold . CHF/JPY has formed a minor top around 118.60 and started to decline from that level.
•Gold’s near term support is around $1224 (10- day MA) and break below will drag the commodity down till $1207 ( of $1296 and $1122)/$1195. The yellow metal should break below $1180 for major trend reversal.
•On the higher side, in the minor resistance is around $1243 (55- ) and any break above will take the commodity till $1250/$1258.
It is good to buy on dips around $1235-37 with SL around $1228 for the TP of $1250/$1258.