Gold takes support near 200 –day MA, good to buy on dips
Major support - $1264 (200- HMA)
The yellow metal pared its gain made yesterday on account of stronger US dollar and expectations of the rate in Dec by Fed.
Gold declined sharply till $1264.after making a high of $1276.69. It is currently trading around $1267.89.
The yellow metal has taken support at 200-HMA and slightly recovered from that level.
On the higher side, major resistance is around $1270.28 (Hourly Kijun-Sen) and any break above targets $1280/$1294.80.
It is good to buy on dips around $1267 with SL around $1259 for the TP of $1277/$1280
The yellow metal pared its gain made yesterday on account of stronger US dollar and expectations of the rate in Dec by Fed.
Gold declined sharply till $1264.after making a high of $1276.69. It is currently trading around $1267.89.
The yellow metal has taken support at 200-HMA and slightly recovered from that level.
On the higher side, major resistance is around $1270.28 (Hourly Kijun-Sen) and any break above targets $1280/$1294.80.
It is good to buy on dips around $1267 with SL around $1259 for the TP of $1277/$1280