FXWirePro: Gold struggles to close above $1340, good to sell on rallies
Major Support - $1329.35 (daily Kijun-Sen) Major intraday resistance -$1343 (61.8% retracement of $1367.30 and $1302.50, Ichimoku cloud) The yellow metal once again retreated from the high of $1340.61made on Friday. Mark…
Major intraday resistance -$1343 (61.8% retracement of $1367.30 and $1302.50, Ichimoku cloud)
The yellow metal once again retreated from the high of $1340.61made on Friday. Markets awaiting the US presidential debate between Republican Donald Trump and Democrat Hillary Clinton on Tuesday at 01:00 GMT for further direction.
In the daily chart Gold is facing strong resistance at $1343. Any break above will take the yellow metal to next immediate resistance at $1349/$1352/$1357 in the short term.
The major support is around $1329 (daily Kijun-Sen) and any break below targets $1323 (55- day EMA) /$1310/$1305 (100- day MA).
Short term weakness only below $1300.
It is good to sell on rallies around $1335 with SL around $1343 for the TP of $1323/1315
