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Long

Gold faces strong support at $1211, good to buy at dips

FX:XAUUSD   Gold Spot / U.S. Dollar
336 0 6
Major support- $1211 (100 W EMA )

The yellow metal has broken $1217.65 low made on Wednesday today morning and declined till $1211.52 at the time of writing.

Gold             has jumped till $1234 yesterday and started to decline from that level. It is facing major resistance around $1238 (7 day EMA ) and any slight bullishness only above that level.

Any indicative break above $1238 will take the commodity till $1243/$1250 level. Short term bullishness only above $1260.

On the lower side major support is around $1211 and any break below targets $1200/$1190/$1175.

StochRsi- Over sold

It is good to buy at dips around $1217 with SL around $1210 for the TP of $1225/$1235
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