Gold breaks major trend line resistance at $1142, jump till $1200 is possible

• Major resistance -$1142 (trend line joining $1307 and $1191)
   
• Major support - $1130 (200 day MA)
   
• Gold has broken major trend line resistance $1142 and this confirms major trend reversal , a jump till $1200 is possible . It is currently trading around $1159.
   
• Gold is facing major support around $1130. Any break below $1130 will drag the commodity down till $1110/$1100.
   
• Short term weakness only below $1070.
   
• On the higher side any break above $1160 will take the pair till $1175/$1200.

It is good to buy at dips around $1150 with SL around $1130 for the TP of $1175/$1200.