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Add as a preferred source on Google FxWirePro: Gold faces major support at 90 day EMA, good to buy at dips Major Support - $1235 (90 day EMA) Gold has taken support near 90 day EMA and recovered from that level. It is currently trading around $1248. Short term trend is bullish as long as support $1225 holds. On the higher sid…
By FxWire Pro Jun 8, 2016, 5:16 AM UTC
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Major Support - $1235 (90 day EMA)
Gold has taken support near 90 day EMA and recovered from that level. It is currently trading around $1248.
Short term trend is bullish as long as support $1225 holds.
On the higher side any break above $1253 (200 day 4H MA) and any break above will take the bullion till $1264/$1270$1282
Gold minor support is around $1235 and any break below targets $1228/$1225.
Overall bullish invalidation only below $1200.
It is good to buy at dips around $1243 with SL around $1234 for the TP of $1260/$1272
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