FxWirePro: Gold faces strong support at 100-W MA, good to buy on dips
Major support - $1207 (100- W MA) Gold has once again recovered after declining till $1211.It is currently trading around $1225. The yellow metal faces strong support at 100- W MA and any weakness can be seen only below …
Gold has once again recovered after declining till $1211.It is currently trading around $1225.
The yellow metal faces strong support at 100- W MA and any weakness can be seen only below that level.
The major support is around $1207 (100- W MA) and $1200. The indicative break below $1200 will drag the yellow metal targets $1172 (61.8% retracement of $1046.50 and $1375).
The major resistance is around $1241.50 (50- W MA) and any break above targets $1264 (5- W MA)/$1270 (200- W MA).
It is good to buy on dips around $1215 with SL around $1200 for the TP of $1244/$1260.
