FxWirePro
Long

Gold faces strong support at 21 day EMA, good to buy at dips

FX:XAUUSD   Gold/U.S. Dollar
497 1 12
Major support - $1256 (21 day MA)

The yellow metal has taken support near 21 day MA and recovered from that level. It is currently trading around $1270.

Short term trend is slightly bullish as long as support 21 day MA holds.

Any breach below $1256 will drag the commodity down till $1242/$1228 in short term.

On the higher side resistance is around $1272.85 (7 day EMA) and break above targets $1280/$1285/$1300.

Gold             should break above temporary top $1303 for further bullishness.

It is good to buy at dips around $1265-$1268 with SL around $1255 for the TP of $1284/$1300
MiDiGre PRO
7 months ago
Is this trade still valid right? Thanks in advance...;-)
Reply
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