FxWirePro
Long

Gold faces strong support at $1070, good to buy at dips

FX:XAUUSD   Gold / U.S. Dollar
242 0 4
Major trend line support - $1070 ( trend line joining $1047 and $1058)

The commodity has made a low of $1071 and started to recover from that level. Short term trend is still bullish as long as support $1070 holds.

Any break below $1070 will drag the commodity further down till $1058/$1047.

Overall bullish invalidation only below $1045 level.

On the higher side major resistance is around $1098 and break above targets $1112/$1125/$1134.

It is good to buy at dips around $1085-90 with SL around $1069 for the TP of $1112/$1125
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