Gold breaks major resistance at $1205, targets $1258/$1300
Major resistance -$1205 (trend line joining $1387 and $1307)
Major support - $1148 (55 W EMA)
The commodity has broken trend line resistance $1205 and jumped till $1214. It is currently trading around $1208
Any break above $1205 confirms major trend reversal , a jump till $1258/$1300 is possible short term.
On the lower side major support is around $1148 and break below will drag the commodity down till $1133/$1124/$1112. The minor support is at $1169/$1154.
Overall bullish invalidation only below $1100.
It is good to buy around $1205 with SL around $1168 for the TP of $1258/$1300
Major support - $1148 (55 W EMA)
The commodity has broken trend line resistance $1205 and jumped till $1214. It is currently trading around $1208
Any break above $1205 confirms major trend reversal , a jump till $1258/$1300 is possible short term.
On the lower side major support is around $1148 and break below will drag the commodity down till $1133/$1124/$1112. The minor support is at $1169/$1154.
Overall bullish invalidation only below $1100.
It is good to buy around $1205 with SL around $1168 for the TP of $1258/$1300
