FxWirePro

Gold faces strong support at $1190, good to buy at dips

FX:XAUUSD   Gold / U.S. Dollar
280 0 7
Major support- $1190 (55 W EMA )

The yellow metal has broken major support at $1205 and declined till $1199 at the time of writing.

Gold’s major resistance around $1218 (100 day EMA ) and any slight bullishness only above that level.

Any indicative break above $1218 will take the commodity till $1225/$1235 level. Short term bullishness only above $1243 (55 day EMA ).

On the lower side major support is around $1190 and any break below targets $1175/$1160.

StochRsi- Over sold

It is good to buy at dips around $1200 with SL around $1190 for the TP of $1218/$1225
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