FxWirerPro: Gold hits one month high after Trumpcare failure, good to buy on dips
Major resistance - $1260 (200- day MA). Gold hits one month high after Trump healthcare flop. The yellow jumped slightly above $1250 till $1258.08 and is currently trading around $1256.97. DXY tumbles to 1-1/2 month low …
Gold hits one month high after Trump healthcare flop. The yellow jumped slightly above $1250 till $1258.08 and is currently trading around $1256.97.
DXY tumbles to 1-1/2 month low after Trump failed to push through his health care act. The index is facing strong support at 99.25 and break below will drag the pair down till 98.
Technically, near term resistance is $1260 and any close above will take the yellow metal till $1273 ($113% retracement of $1260 and $1194).
On the lower side, $1243 (23.6% retracement of $1258.85 and $1194.86) will be acting as major support and any break below will drag the gold down till $1230 (21- day EMA)/$1224 (100- day EMA).
It is good to buy on dips around $1253 with SL around $1243 for the TP of $1272.
