Gold faces support at $1285,break below targets $1250/$1242

FX:XAUUSD   Gold Spot / U.S. Dollar
366 0 6
Candle Stick pattern formed- Shooting star

Potential reversal Zone - $1303 (yesterday high)

Gold             has broken major psychological resistance $1300 and jumped till $1303.62. It is currently trading around $1293.

The Yellow metal has declined till $1285 and recovered slightly from that level. On the lower side yesterday’s low will be acting as major intraday support and any break below targets $1265/$1250/$1242 in short term.

On the higher side major resistance is around $1303 and break above targets $1310/$1325/$1345 in short term.

Short term trend reversal only below $1227.

It is good to sell below $1285 with SL around $1303 for the TP of 1251/$1242
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