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Long

Gold faces major support at 90 day EMA, good to buy at dips

FX:XAUUSD   Gold Spot / U.S. Dollar
229 0 4
Major Support - $1235 (90 day EMA )

Gold             has taken support near 90 day EMA and recovered from that level. It is currently trading around $1248.

Short term trend is bullish as long as support $1225 holds.

On the higher side any break above $1253 (200 day 4H MA) and any break above will take the bullion till $1264/$1270$1282

Gold             minor support is around $1235 and any break below targets $1228/$1225.

Overall bullish invalidation only below $1200.

It is good to buy at dips around $1243 with SL around $1234 for the TP of $1260/$1272
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