• Major support - $1187 (21- day MA)
   
• Major resistance - $1220 (100- day EMA)
   
• The yellow metal inched higher on Friday after declining till $1180 level after weaker than expected U.S GDP data. It is currently trading around $1193.57.
   
• Gold recovers from the two week low after weaker than expected U.S GDP data. U.S economy grew at 1.9% in the fourth quarter compared to forecast of 2.2%.  The index declined sharply after showing a jump till 100.82.It’s upside is capped by 20 –day EMA and any break above 101.10 will take the index to next level till 101.30/101.60.
   
• Gold major intraday resistance is around $1205 (10- day MA) and any break above targets $1209/$1218.20 (100- day EMA). The minor resistance is around $1197.
   
• On the lower side, immediate support is around $1176 (50- day MA) and any indicative break below targets $1159 (61.8% retracement of $1122 and $1218.94).
  
  It is good to sell on rallies around $119 with SL around $1200 for the TP of $1172/$1161.