Major support - $1176 (50- day MA) Major resistance - $1217 (100- day EMA) The yellow metal made strong gains on Tuesday due to weak dollar and uncertainties over President Donald Trump policies. It is currently trading …
The yellow metal made strong gains on Tuesday due to weak dollar and uncertainties over President Donald Trump policies. It is currently trading around $1208.50.
Gold awaits U.S Fed Monetary policy meeting on Wed for further direction. U.S Dollar index breaks major support at 99.80 low formed on Jan 26th 2017 and declined till 99.43. The major support is around 99.43 (Dec 8th 2016 low) and break below targets 98.30.
Gold major intraday resistance is around $1217 (100- day EMA) and any break above targets $1234/$1250.
On the lower side, immediate support is around $1190 (21- day MA) and any indicative break below targets $1176(50- day MA)/ $1159 (61.8% retracement of $1122 and $1218.94).
It is good to buy above $1220 with SL around $1208 for the TP of $1234/$1250.
