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