Gold prices set to advance further, bullish extension till 1180 is likely- Go long around 1140, targets around 1160/1180, SL 1132

The yellow metal has declined marginally lower on Friday after non-farm payrolls data however it has managed to stay around three month high as growing doubts about whether the Federal Reserve can keep raising interest rates has kept the demand for the yellow metal intact. 

• The commodity is set to advance further towards higher side in the coming days as the demand for yellow metal is set to continue.
   
• Any downside is expected to be limited around 1135 levels ,as the support level located at 1132 is likely to hold the bears from falling further below and bring a rebound back towards higher levels.
   
• To the upside, the strong resistance can be seen at 1160, a break above this level would expose the commodity towards 1169 levels.
   
• To the downside immediate support can be seen at 1144, a break below at this level will open the door towards 1132 levels.
  
  Recommendation: Go long around 1140, targets around 1160/1180, SL 1132
  
  Support levels: S1-1144, S2-1140, S3-1132
  
  Resistance levels: R1-1150, R2-1160, R3-1169