FxWirePro: Gold faces major resistance at $1300, good to buy at dips

• Major Support - $1250 (7 W EMA)
   
• Gold has broken major trend line resistance $1260 (trend line joining $1303 and $1288) and jumped till $1278.It is currently trading around $1274.
   
• Short term trend is bullish as long as support $1250 holds.
   
• On the higher side any break above $1282 (78.6% retracement of $1303.65 and $1199) and any break above will take the bullion till $1292/$1303 (May 2nd high).  
   
• Gold minor support is around $1258 and any break below targets $1250/$1243 (21 day MA).
   
• Overall bullish invalidation only below $1200.
   
• Market awaits FOMC monetary policy meeting on Jun 15th for further direction.

It is good to buy at dips around $1260 with SL around $1249 for the TP of $1282/$1292