Gold breaks faces major trend line support around $1170, break below targets $1150

Gold has made a high of $1190 and started to decline from that level. It is currently trading at $1173.

• It is facing strong trend line support around $1170 (trend line joining $1136 and $1151) and break below targets $1163/$1150.
• Short term bearish invalidation only above $1190.
• On the higher side major resistance is around $1190 and break above targets $1200.

It is good to sell on rallies around $1177-80 with SL around $1190 for the TP of $1163/$1159.