• Minor resistance - $1192 (3- M EMA)
   
• Major resistance - $1231 (10- M EMA)
   
• Major support - $1115 (Gann 8*1)
   
• Gold made a yearly low of $1122 and jumped slightly from that level. The yellow metal closed around $1150.62 previous year.
   
• Short term trend is still weak as long as resistance $1231 holds. The precious metal should break above $1231 for further bullishness. Any break above will take the precious metal to next level till $1278 (61.8% retracement of $1375 and $1122)/$1300.
   
• On the lower side, $1115 will be acting as major support and any break below will drag the yellow metal till $1046 (Dec 2015 low).
  
  It is good to sell on rallies around $1185-$1190 with SL around $1231 for the TP of $1115/$1070