FxWirePro
Short

Gold trades well below 21-day MA, good to sell on rallies

FX_IDC:XAUUSD   GOLD / US DOLLAR
279 1 9
Major resistance - $1332 (21- day MA)

The yellow metal has broken minor support $1321 and declined till $1313 at the time of writing . It is currently trading around $1330.34. 

The major support is around $1307 (90- day EMA) and any break below that level will drag the yellow metal down till $1297 (2.6% retracement of $1375 and $1047)/$1285 (50% retracement of $1199 and $1375. 

Gold              is facing major intraday resistance around $1331 (21- day MA) and any break above targets $1345 (61.8% retracement of $1352.61 and $1335)/$1352. The minor resistance is around $1323.60 (55- day EMA)/

Short term weakness only below $1300. 

It is good to sell on rallies around $1325 with SL  around $1332 for the TP of $1311/$1306
dan.dkn
2 months ago
nice
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