Gold: Buy above breakout

FX:XAUUSD   Gold Spot / U.S. Dollar
327 0 7
Major resistance - $1240 ( Trend line joining $1253 and $1242)

Major support - $1230

Yellow metal has made a high of $1242.94 yesterday and slightly declined from that level. It is currently trading around $1236.93.

Short term trend is still weak as long as support $1230 holds.|

On the lower side any break below $1230 will drag the commodity down till $1220/$1213.

Any break above major resistance will take the commodity till $1255/$1263 in short term.

It is good to buy above $1240 with SL around $1230 for the TP of $1255/$1263.
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