Major resistance- $1326.50 (21- day MA) Major support -$1315 (trend line joining $1047 and $1199) The yellow metal has taken support near trend line support at $1315 and slightly recovered from that level. It is currentl…
Major support -$1315 (trend line joining $1047 and $1199)
The yellow metal has taken support near trend line support at $1315 and slightly recovered from that level. It is currently trading around $1323.55.
In the daily chart Gold is facing strong resistance at $1327 (21- day MA). Any break above will take the yellow metal to next immediate resistance at$1342/$1349/$1352/$1357 in the short term.
The major support is around $1315 (trend line joining $1047 and $1199) and any break below targets $1310/$1308 (100- day MA).
Short term weakness only below $1300.
It is good to buy above $1327 with SL around $1315 for the TP of $1340/$1349.
