FxWirePro: Gold hits five month high on U.S attack on Syria, good to buy on dips
Gold hits five month high after U.S military launched missile attack against Syrian base. The yellow metal broken the high of $1261.25 the high formed on Apr 4th 2017 and jumped till $1263.50. On the higher side any brea…
Gold hits five month high after U.S military launched missile attack against Syrian base. The yellow metal broken the high of $1261.25 the high formed on Apr 4th 2017 and jumped till $1263.50.
On the higher side any break above trend line resistance will confirms minor bullishness. Any break above trend line will take the gold till $1275 (161.8% retracement of $1261 and $1239.388)/$1279 (61.8% retracement of $1375 and $1122)/$1307.
The minor support is around $1250 (23.6% retracement of $1195 and $1269.60) and any break below targets $1242 (21- day EMA)/$1228 (daily kijun-sen).
Short term bullish invalidation only below $1195.13.
It is good to buy on dips around $1258-$1260 with SL around $1250 for the TP of $1273/$1279.
