Gold has retreated after finding resistance at 1247 levels to trade around 1230 levels, erasing some earlier gains made in the early US session. However, downside is set to be limited as the commodity finds strong support at 1218 levels as a result a strong rebound can be expected sooner or later.
- The commodity is poised to breach the resistance level located at 1247 and advance further towards upside as the demand for yellow metal increased as concerns over global economic growth increased after down beat data from China.
- To the upside, the strong resistance can be seen 1247, a break above this level would expose the commodity towards 1272 levels.
- To the downside immediate support can be seen at 1226, a break below at this level will open the door towards 1218 levels.
Recommendation: Go long around 1220, targets around 1247/1272, SL 1206
Support levels: S1-1226, S2-1218, S3-1206
Resistance levels: R1-1247, R2-1263, R3-1272


FxWirePro- Major Crypto levels and bias summary
Aussie Bulls Charge: AUD/JPY Rallies as Geopolitical Clouds Part
Euro Ascendant: EUR/USD Breaks $1.17 as Geopolitical Relief Sparks a Bullish Surge
Pound Sterling Power: GBP/JPY Secures Third Day of Gains as Global Risk Tensions Recede
FxWirePro: USD/ JPY slips as yen rallies after Mideast ceasefire declaration
FxWirePro: EUR/AUD falls below 1.6600 level, plunge to test a key fibo grows
FxWirePro: AUD/USD spikes as Trump announces two-week Iran ceasefire
FxWirePro: GBP/AUD takes back some lost ground
FxWirePro: GBP/USD stuck in range but maintains bearish bias
FxWirePro- Major Pair levels and bias summary
NZD/JPY Rockets as Kiwi Dollar Resilience Defies the Oil Shock
FxWirePro: GBP/AUD downtrend extends, eyes 1.8900 evel
EUR/JPY Breaks Out: Euro Surges Past 185.00 Resistance Amid Strong Bullish Momentum
FxWirePro: USD/ZAR slips sharply lower as US-Iran ceasefire lifts risk appetite
FxWirePro: EUR/NZD remains under pressure as key support gives way 



