Gold Spot has completed expected target of $1248 (^ $126) of IHNS formation formed between Dec2009 to Apr2010, now Gold may try to complete the leftover target of another IHNS formation formed between Mar2008 to Sep2009 in the range of $1300-$1336(^ $351). Gold may correct or find support in the range of $1220-$1195 before heading to the next top. Gold short term support exist in the range of $1170-$1154 and medium term support around $1044 which is also RBI buying level of 200MT of Gold. Gold 20 days and 50 days MAVG are $1146 and $1106 respectively. At any point of time Gold closing below $1146 will invalidate the above targets.
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