- Major support - $1248 (200 HMA)
- Major resistance - $1289 (May 16th high)
- The yellow metal ahs jumped till $1287 yesterday on account of Brexit and Oralando terror attack.
- It has slightly declined from the high and is currently trading at $1279.
- The minor support of Gold is around $1278 (hourly Tenkan-Sen ) and any break below will drag the pair down till $1271 (21 day MA)/$1265 (hourly Kijun-Sen).
- On the higher side any break above $1289 will take the gold to next level at $1300/$1305.Extreme bullishness can be seen above $1305 level.
- Overall trend reversal only below $1200.
It is good to buy at dips around $1275 with SL around $1265 for the TP of $1293/1300
