FxWirePro
Long

Gold:Buy on Dips

FX:XAUUSD   Gold / U.S. Dollar
299 1 11
Major resistance - $1358

Major support - $1343 (200 MA)

The yellow metal has slightly declined till $1345 yesterday from the high of $1355.96..It is currently trading at $1350. Gold             has declined slightly yesterday after Fed President John Williams said overnight that rate is expected to happen “sooner rather than later”.

The major resistance is at $1358 (Aug 10th high) and any break above targets $1368/$1375 in the short term.

On the lower side, support stands at $1343 (200 H MA) and break below will drag the commodity down till $1338/$1330/$1315 (55 day EMA )/$1295.

It is good to buy on dips around $1345-1348 with SL of $1338 for the TP of $1358/$1368.
It is good to buy on dips around $1345-1348 for the TP of $1338 for the TP of $1331/$1316????????
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