The price is still trying to rise, but this rally requires a breach of the resistance level of 1238.00 and stability above it. Indeed, the price of gold is trying to breach this level. For today's trading, trading above 1220.00 will be a reason to stay bullish.
But from the bottom, breaking the 1220.00 level and stabilizing below it could significantly weaken chances and may cause a downside correction.
From here, we think it might be good to buy gold around 1230.00 with two-time profit at 1239.00 and 1245.00 and stop loss below 1219.00.
