FxWirePro
Short

Gold faces strong resistance at $1358, good to sell on rallies

FX:XAUUSD   Gold / U.S. Dollar
389 1 11
Major resistance - $1368

Major support - $1330

The yellow metal has once again retreated till $1340 at the time of writing after making a high of $1357.96 yesterday and it is currently trading at $1338.

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 $1338 (21 day MA) and break below will drag the commodity down till $1330/$1315 (55 day EMA )/$1295.

It is good to sell on rallies around $1345-1348 for the TP of $1358 for the TP of $1331/$1316.
SL of $1358, not TP.
Reply
Ideas Scripts Chart
United States
United Kingdom
India
España
France
Italia
Polska
Brasil
Россия
Türkiye
日本
한국
Home Stock Screener Forex Signal Finder Economic Calendar How It Works Chart Features House Rules Moderators For the WEB Widgets Stock Charting Library Priority Support Feature Request Blog & News FAQ Help & Wiki Twitter
Private Messages Chat Ideas Published Followers Following Priority Support Public Profile Profile Settings Account and Billing Sign Out