Technical Analysis of GOLD

We saw Gold prices rose after mixed manufacturing and services data out of China bolstered expectations for continued easy global monetary policies.

Gold for February delivery on the Comex division of the New York Mercantile Exchange rose 0.43% to $1,121.20 a troy ounce after the data.

Most Likely Scenario:- Long Above @1114.39 with target 1130.20 to continue its uptrend

Alternative:- Short Below @1114.39 with target 1104.50 for further retracement.

RSI Still moves in buying area.

Trend:- Uptrend

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