Gold faces strong support at 21-day MA,break below targets $1322
Major support - $1358 The yellow metal has declined till $1335 and slightly recovered till $1339.35 at the time of writing . It is currently trading around $1346.30. Gold should break below $1332 (21- day MA) for further…
The yellow metal has declined till $1335 and slightly recovered till $1339.35 at the time of writing . It is currently trading around $1346.30.
Gold should break below $1332 (21- day MA) for further weakness.Any break below 21- day MA will drag the yellow metal down till $1322 (61.8% retracement of $1352.63 and $1302.60)/$1315/$1311.
Gold is facing major intraday resistance around $1345 (61.8% retracement of $1352.61 and $1335) and any break above targets $1352/$1358.
Short term weakness only below $1300.
It is good to buy on dips around $1345-$1348 with SL around $1338 for the TP of $1$1357.85/$1367
