Gold faces strong resistance around $1268, good to buy at dips

FX:XAUUSD   Gold Spot / U.S. Dollar
Major resistance - $1250 ( trend line joining $1433 and $1391)

Major support- $1237 (3 W EMA )

Gold has broken major resistance $1250 and jumped $1268. It is currently trading around $1261.

Short term trend is still bullish as long as support $1237 holds.

On the higher side major resistance is around $1268 and break above targets $1300 in short term.

Gold minor support is around $1249 and any break below targets $1244/$1237.

Overall bearish invalidation only below $1200.

It is good to buy at dips around $1248-$1250 with SL around $1237 for the TP of $1268/$1300.


Resistance at 1268 broken?
FxWirePro whailewatcher
Target $1325
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