FxWirePro
Long

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

FX:XAUUSD   Gold/U.S. Dollar
439 2 12
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?
Reply
FxWirePro whailewatcher
9 months ago
Target $1325
Reply
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