FxWirePro
Long

Gold faces resistance at $1205,break above targets $1258/$1300

FX:XAUUSD   Gold/U.S. Dollar
255 0 9
Major resistance -$1205 (trend line joining $1387 and $1307)

Major support - $1148 (55 W EMA)

The commodity has made a high of $1200 and slightly declined from that level. It is currently trading around $1188.

Gold             faces strong resistance around $1205 and any break above will take the commodity to next level around $1258/$1300 in short term.

On the lower side major support is around $1148 and break below will drag the commodity down till $1133/$1124/$1112. The minor support is at $1169/$1154.

Overall bullish invalidation only below $1100.

It is good to buy only above $1205 with SL around $1168 for the TP of $1258/$1300
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