FxWirePro
Short

Gold breaks faces support at $1170, break below targets $1150

FX:XAUUSD   Gold/U.S. Dollar
478 1 6
Gold             has made a high of $1190 and started to decline from that level. It is currently trading at $1173.

It is facing strong trend line support around $1170 (trend line joining $1136 and $1151) and break below targets $1163/$1150.

Short term bearish invalidation only above $1190.

On the higher side major resistance is around $1190 and break above targets $1200.

It is good to sell on rallies around $1177-80 with SL around $1190 for the TP of $1163/$1159

VinceR
a year ago
1214 is a better target if you used the proper validation patterns.
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