Gold faces strong resistance at $1265, break above targets $1278

• Major resistance- $1265 (Oct 7th high).
   
• Major intraday Support - $1250
• Gold jumped slightly once again after declining till $1250 level. It is currently trading around $1258.58.
   
• On the higher side, major resistance is around $1265 (Oct 7th 2016 high) and any break above confirms minor trend reversal. Any violation above targets $1274 (23.6% retracement of $1375.15 and $1241)/$1277/$1295 (21- day MA).
   
• The support is at $1250 and any violation below will drag the gold till $1226 (161.8% retracement of $1241 and 1264.93)/$1210.

It is good to buy above $1265 with SL around $1255 for the TP of $1277/$1290