Gold: bulls prevail


After a good rally, gold halted near the resistance zone. Yesterday, the market was prevailed by bulls. We penned a positive divergence in charts, hence it came true. Thanks to all the bull bidders and to the indicators. For today's trading session gold levels are following:
NEAR TERM - 1 278 strong resistance.
INTRA VIEW - Above 1,268 only upward moves.
Resistance 1,268, 1,278, 1,290, 1,295.
Support 1,255, 1,247, 1,240, 1,237.
A close above 1,295 brings more bullish sentiment. In case of a close below 1,237, bears take control. Important levels are 1,215, 1,210, CMP 1,257.

More analysis - at instaforexcom