FxWirePro
Long

Gold breaks major resistance at $1205, targets $1258/$1300

FX:XAUUSD   Gold/U.S. Dollar
375 2 5
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
Thet
9 months ago
I am In.
Reply
Thanks for the advice, booked a nice profit!
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