Gold-Sell below $1260

FX:XAUUSD   Gold Spot / U.S. Dollar
323 0 10
Major support - $1264 (21 day EMA )

The yellow metal has declined drastically after fear of Britain leaving the EU eases. It is currently trading around $1265.

Gold             should close below $1264 (21 day EMA ) for further weakness. If the pair closes below this level today , a decline till $1250/$1234 (90 day EMA )/$1225 is possible .

On the higher side resistance is around $1280 (7 day EMA ) and any break above targets $1292/$1300/$1315 (200 W MA).

Overall trend reversal only below $1200.

It is good to sell below $1260 with SL around $1280 for the TP of $1235/$1224.
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