Gold face strong support at 200- HMA, break below targets $1250

• Major support - $1265 (200- HMA).
   
• The yellow metal pared its slight gain made yesterday on account of stronger US dollar and expectations of rate in Dec by Fed.
   
• Gold declined sharply till $1266.97.after making a high of $1272.98. It is currently trading around $1268.11.
   
• The yellow metal is facing strong support around $1265 and any break below targets $1260/$1250 in the short term.
   
• On the higher side, major resistance around $1275 (23.6% retracement of $1241 and $1375) and any break above targets $1280/$1294.80.

It is good to sell below $1265 with SL around $1275 for the TP of $1250/$1240