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Gold: Buy above break out

  • Major resistance -$1333 (trend line joining $1375 and $1333.74, 200 HMA)
     
  • Major support - $1322 (hourly Kijun-Sen)
     
  • The yellow metal has made a high of $1333 yesterday and slightly declined from that level. It is currently trading around $1327.20.
     
  • On the lower side minor weakness can be seen below $1322 and break below targets $1316/$1310 in the short term.
     
  • Technically resistance is around $1333 and break above will take the commodity to next level till $1340/$1347/$1357.

It is good to buy above $1333 with SL around $1322 for the TP of $1347/$1357

 

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