Gold bullish above $1180 for now

Gold -0.07% structure is suggesting that the medium term  bullish outlook could be underway towards $1250/70 levels. The yellow metal seems to be pulling back for now, after printing highs at $1208 levels yesterday. Ideally prices could remain above $1192 (to produce an impulse wave), and broadly above $1180, to keep the recent structure intact. The next resistance is seen at $1212, followed by $1216 levels and bulls could be looking poised to take them off, going forward. Overall, the medium term wave structure could be looking to carve a  Zigzag correction towards $1250/70 levels.  

(Source: FXTM.com)