Spot Gold advanced on Wednesday as the greenback eased ahead of meeting between US president Trump and EU Commission President Juncker on trade-focused talks, due today. The yellow metal rose around $9 for the session and pressures pivotal barriers at $1232 (falling 10SMA/Fibo 38.2% of $1265/$1211 bear-leg), looking for stronger bullish signal on break here and nearby lower top of 23 July at $1235. North-heading daily indicators are supportive, but falling MA’s in firm bearish setup warn of possible recovery stall as overall structure remains bearish. Failure to close above $1232/35 would generate initial warning that rally might be running out of steam, with return below session low ($1223) to signal reversal. Bullish scenario on break above $1232/35 would open way for extension towards Fibo targets at $1238/45 (50% and 61.8% of $1265/$1211 fall respectively).
Res: 1232, 1235, 1238, 1245
Sup: 1226, 1223, 1218, 1215
