FxWirePro: Gold faces strong resistance at $1250, good to buy at dips

• Major resistance - $1250 (trend line joining $1263 and $1253)
   
• Major support -$1220
   
• Gold has made a high of $1248 and started to decline from that level. It is currently trading at $1246.
   
• Short term trend is still bullish as long as $1220 holds.
   
• On the higher side any break above $1250 confirms minor trend reversal , a jump till $1260/$1275 is possible.
   
• Gold is facing major support is around $1220 and break below targets $1210/$1198.
   
• Overall bearish invalidation only below $1198.

It is good to buy at dips around $1235 with SL around $1220 for the TP of $1275/$1300