• Major intraday resistance- $1200 (7- day EMA)
   
• Major intraday support - $1180 (61.8% retracement of $1170.63 and $1197.25).
   
• Gold has once again declined after jumping till $1197.25 yesterday on account of strong dollar. It is currently trading around $1191.18.
   
• The yellow metal‘s upside is capped by 7- day EMA and also major pschycological resistance at $1200.Any indicative break above $1200ets $1210 (23.6% retracement of $1337 and $1171.07)/$1221.


• Short term bullishness only above $1235.
   
• On the lower side, any break below $1170 will drag the commodity down till $1160/$1147level.The major intraday support is around $1180.
  
  It is good to buy on dips around $1188 with SL around $1180 for the TP of $1209/$1220