Gold faces strong support around $1070, good to buy at dips

FX:XAUUSD   Gold Spot / U.S. Dollar
456 0 8
Major demand Zone - $1080-85.

Gold             has recovered till $1095 after making a low of $1085. It is currently trading at $1092.

Short term bounce back till $1120 is expected as long as support $1078 holds.

On the lower side minor support are around $1078 and any break below targets $1070/$1060.

Further weakness only below $1070.

The minor resistance is at $1098 and any indicative break above would extend gains till $1110/$1124.

It is good to buy at dips around $1085 with SL around $1070 for the TP of $1110/$1124.
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