Description
⋅ Major resistance - $1223 (trend line joining $1239 and $1232.90)
Major support - $1207 (55 day 4H EMA)
Gold has recovered after making a low of $1201.80. It is currently trading around $1220.65.
On the higher side it is facing resistance around $1223 and break above targets $1239/$1259.
Major support is around $1207 and break below will drag the commodity down till $1200/$1178.
Short term bullish invalidation below $1180
It is good to buy above $1223 with SL around $1207 for the TP of $1239/$1260