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Long

Gold faces strong support at 21 day EMA, good to buy at dips

FX:XAUUSD   Gold Spot / U.S. Dollar
259 0 3
Major support - $1260 (21 day MA)

The yellow metal has taken support near 21 day MA and recovered from that level. It is currently trading around $1276.

Short term trend is slightly bullish as long as support 21 day MA holds.

Any breach below $1260 will drag the commodity down till $1242/$1228 in short term.

On the higher side resistance is around $1280 (Tenken-Sen) and break above targets $1285/$1300/$1304.

Gold             should break above temporary top $1303 for further bullishness.

It is good to buy at dips around $1270 with SL around $1260 for the TP of $1285/$1300
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