FxWirePro: Gold faces strong support at $1270, good to buy at dips

• Major support - $1270 (10 day EMA)
   
• The yellow metal has once again retreated after making a high of $1288.
   
• Gold has made a low of $1273 today at the time of writing and slightly recovered in Asian Session
• It is currently trading around $1279.
   
• Intra day trend is slightly bullish as long as support $1270 holds.
   
• Any breach below $1270 will drag the commodity down till $1260/$1242 in short term.
   
• On the higher side resistance is around $1303 and break above targets $1314/$1330.
   
• Gold should break below $1260 for further bearishness.

It is good to buy at dips around $1270 with SL around $1260 for the TP of $1285/$1300