- Major support – $1331 (21-day MA).
- Major support - $1358
- The yellow metal has once again slightly retreated till $1341 at the time of writing after making a high of $1352 yesterday. It is currently trading around $1346.30.
- Gold is facing major resistance around $1358 (Aug 16th 2016 high) and any break above targets $1367/$1375.
- On the lower side, support stands at $1331 (21- day MA) and any violation below targets $1322 (61.8% retracement of $1352.63 and $1302.60)/$1310.
- Short term weakness only below $1300.
It is good to buy on dips around $1345-$1348 with SL around $1338 for the TP of $1$1357.85/$1367
