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FxWirePro: Gold faces short term support around $1130, good to sell on rallies

  • Gold has breaks short term support $1145 and declined till $1133 from that level. It is currently trading at $1136. Overall trend is still weak as long as resistance $1150 holds.

  • On the downside minor support is around $1130 and break below targets $1115/$1100.

  • Overall trend reversal can happen only above $1170 level.

  • The pair's minor resistance is around $1141 and break above targets $1150.

It is good to sell on rallies around $1140-42 with SL around $1151 for the TP of $1130/$1115

 

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