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Short

Gold faces strong resistance at $1358, good to sell on rallies

FX_IDC:XAUUSD   GOLD / US DOLLAR
183 2 10
Major resistance - $1358

Major support - $1330

The yellow metal has once again retreated till $1331 at the time of writing after making a high of $1356.97 yesterday and it is currently trading at $1333.

The major resistance is at $1358 (Aug 10th high) and any break above targets $1368/$1375 in the short term.

On the lower side, support stands at $1330 (Aug 8th low) and break below will drag the commodity down till $1320 (55 day EMA )/$1311/$1300.

It is good to sell on rallies around $1345-1348 for the TP of $1358 for the TP of $1331/$1316.
It is good to sell on rallies around $1345-1348 for the TP of $1358 for the TP of $1331/$1316.
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It is good to sell on rallies around $1345-1348 for the TP of $1358 for the TP of $1331/$1316. ?????????????????? What is that ???
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