Major resistance $1233 (3-W EMA) Major support - $1200 The yellow metal breaks below 100- WMA and declined till $1202 in the previous week. It is currently trading around $1212. Gold showed a slight recovery till $ yeste…
The yellow metal breaks below 100- WMA and declined till $1202 in the previous week. It is currently trading around $1212.
Gold showed a slight recovery till $ yesterday and declined sharply from that level. It is currently trading around $1206.75.
On the higher side, resistance stands at $1233 (3- W EMA) and any break above targets $1253/$1268 (200 W- MA).
The major support is around $1200 and any break below will drag the yellow metal down till $1180 (161.8% retracement of 1241.50 and $1337)/$1172 (61.8% retracement of $1046.50 and $1375).
It is good to buy on dips around $1205-$1207 with SL around $1198 for the TP of $1232/$
