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Add as a preferred source on Google FxWirepro:Gold trades well above $1350, good to buy on dips Major support - $1340 (daily Kijun-Sen). Gold has jumped till $1367 and declined from that level .It is currently trading at $136.50. Short term trend is bullish as long as support $1340 holds. Any break below $1340 will…
By FxWire Pro Aug 3, 2016, 5:44 AM UTC
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Major support - $1340 (daily Kijun-Sen).
Gold has jumped till $1367 and declined from that level .It is currently trading at $136.50.
Short term trend is bullish as long as support $1340 holds.
Any break below $1340 will drag the commodity down till $1332 (61.8% retracement of $1310.71 and $1367)/$1325 in the short term.
On the higher side, the break above $1368 will take the gold to next level $1375/$1400.
Short term weakness only below $1300.
It is good to buy on dips around $1352-1355 with SL around $1339 for the TP of $1374/1398
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