Gold faces strong support at $1100, good to buy at dips

FX:XAUUSD   Gold Spot / U.S. Dollar
331 0 2
Major resistance -$1131 (200 day MA)

Major support - $1100 (20 day MA)

Gold             has declined till $1108 after making a high of $1127. It is currently trading around $1120.

Short term trend is slightly bullish as long as support $1100 holds. Any break below $1100 will drag the pair till $1090/$1080.

Short term weakness only below $1070.

On the higher side any break above $1131 will take the pair till $1150/$1175.

It is good to buy at dips around $1115-$1120 with SL around $1100 for the TP of $1150/$1174
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