FxWirePro
Long

Gold :100- WMA and $1200

FX_IDC:XAUUSD   Gold Spot / U.S. Dollar
318 0 8
Major resistance $1233 (3-W EMA )

Major support - $1200

The yellow metal breaks below 100- WMA and declined till $1202 in the previous week. It is currently trading around $1212

Gold             showed a slight recovery till $ yesterday and declined sharply from that level. It is currently trading around $1206.75.

On the higher side, resistance stands at $1233 (3- W EMA ) and any break above targets $1253/$1268 (200 W- MA).

The major support is around $1200 and any break below will drag the yellow metal down till $1180 (161.8% retracement of 1241.50 and $1337)/$1172 ( 61.8% retracement of $1046.50 and $1375).

It is good to buy on dips around $1205-$1207 with SL around $1198 for the TP of $1232/$
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