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Short

Gold faces resistance at 10 day EMA, good to sell on rallies

FX:XAUUSD   Gold / U.S. Dollar
193 0 6
Major resistance- $1230 (10 day EMA )

The yellow metal has jumped till $1219.81 today morning and started to slightly decline from the level.

Gold’s major resistance around $1230 (10 day EMA ) and any slight bullishness only above that level.

Any indicative break above $1230 will take the commodity till $1235/$1239 level. Short term bullishness only above $1240 (55 day EMA ).

On the lower side major support is around $1200 and any break below targets $1190/$1175/$1160.

It is good to sell on rallies around $1220 with SL around $1230 for the TP of $1200/$1190

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