FxWirePro
Long

Gold breaks major resistance around $1100, good to buy at dips

FX:XAUUSD   Gold Spot / U.S. Dollar
534 1 10
Pattern Formed – Big W pattern

The commodity has broken major resistance $1100 and jumped till $1102 from that level. It is currently trading at $1095. Short term trend is still bullish as long as support $1078 holds. Any break below $1078 will drag the commodity to next level $1070/$1060.

Overall trend reversal only below $1045.

On the higher side major resistance is around $1109 and any break above will take the pair till $1125/$1138/$1150.

It is good to buy at dips around $1090-95 with SL around $1078 for the TP of $1125/$1148.
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