FxWirePro: Gold faces strong support at $1217, good to buy at dips

• Major support - $1217 (trend line joining $1190 and $1201.80)
   
• Major resistance -$1249 (trend line joining $1263 and $1253)
   
• The commodity has retreated after making a high of $1248 yesterday. It is currently trading around $1225.
   
• Short term trend is slightly bullish as long as support $1210 holds.
   
• On the higher side minor resistance is around $1232 and any break above targets $1240/$1251.
   
• Any break below major support $1217 will drag the commodity to next level $1200/$1180.
   
• Short term bearish invalidation only below $1180.

It is good to buy at dips around 1217-$1220 with SL around $1210 for the TP of $1240/$1251