FxWirePro
Long

Gold faces major support around $1230, good to buy at dips

FX:XAUUSD   Gold/U.S. Dollar
269 0 7
Major Support - $1230 ( trend line joining $1190 and $1225)

Major resistance - $1261 ( trend line joining $1284 and $1270)

Yellow metal has made a low of $1240 and started to recover from that level. Short term trend is bullish as long as support $1230 holds.

On the higher side minor resistance is around $1250 (7 day EMA) and break above targets $1261/$1270 level.

Major trend reversal level $1285.

Any break below $1230 confirms minor trend reversal, a decline till $1210/$1200 is possible.

Overall bullish invalidation only below $1190.

It is good to buy at dips around $1245-$1247 with SL around $1230 for the TP of $1261/$1270$1283
Ideas Scripts Chart
United States
United Kingdom
India
España
Italia
Brasil
Россия
Türkiye
日本
한국
Home Stock Screener Economic Calendar How It Works Chart Features House Rules Moderators For the WEB Widgets Stock Charting Library Priority Support Feature Request Blog & News FAQ Help & Wiki Twitter
Private Messages Chat Ideas Published Followers Following Priority Support Public Profile Profile Settings Billing Sign Out