The price of gold rose yesterday, and is likely to continue to rise today, in an attempt to test the resistance level at 1238.00. However, the length of the uptrend will depend on the ability of the price to breach the mentioned level and stability above it.
But from the bottom, trades should stay above 1208.00 to keep the upside, but we prefer to keep trading above 1220.00 to keep the upside.
From here, we think it might be good to buy gold above 1220.00 with two-time profit at 1230.00 and 1235.00 and stop loss below 1214.00.
