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FxWirePro: Gold faces strong resistance at $1368, good to sell on rallies

  • Major resistance - $1368
     
  • Major support - $1330
     
  • The yellow metal ahs once again retreated till $1333 after making a high of $1358 and it is currently trading at $1338.
     
  • The minor resistance is at $1343 (daily Tenken-Sen) and any break above targets $1348/$1358 in the short term.
     
  • On the lower side, support stands at $1330 and break below will drag the commodity down till $1315 (55 day EMA)/$1295.

It is good to sell on rallies around $1345-1348 for the TP of $1358 for the TP of $1331/$1316.        

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