Gold is consolidating after a hitting 1 year low at $1204.69. The yellow metal hits low of $1204.69 on Jul 2017 and shown a good jump from that level.
In the hourly chart, gold is facing resistance at $1216-16.50 (200- H MA and trend line joining $1235.40 and $1228) and any break above will take the yellow metal to next level till $1220/$1228.
On the lower side, any break below $1211 (100- H MA) will drag the the yellow metal down till $1205/$1200.
USDJPY which is the major indicator for gold movement is currently trading weak. Gold and USDJPY has inverse relationship.
It is good to buy above $1216 with SL around $1210 for the TP of $1228.
