Technical outlook and chart setups:
1. Gold is around the fibonacci 0.382 resistance levels at $1,260.00/61.00 for now. It is expected that prices could push further up towards $1,278.00/80.00 levels before reversing. Recommendations are to remain flat for now and look to sell higher. Please note that trend line resistance shall be passing around $1,278.00/80.00 levels early next week.
2. Support is seen at $1,240.00, followed by $1,230.00, $1,210.00 and lower while resistance is seen at $1,280.00, followed by $1,300.00, $1,310.00, $1,330.00 and higher respectively.
3. The structure indicates that Gold will remain bearish till prices are below the $1,300.00 levels.
Trading recommendations:
Remain flat for now.
Good luck!