Gold: Intraday Trade Idea

FX:XAUUSD   Gold Spot / U.S. Dollar
338 1 13
Major support - $1310

Major resistance- $1325 (200 15 min MA)

The yellow metal has broken minor support $1320 yesterday and declined till $1310.89. it is currently trading around $1316.90.

Gold             trades slightly above minor trend line resistance $1315 ( trend line joining $1320.93 and $1315.25). So slight jump till $1325 is possible.

On the lower side, any violation below $1310 will drag the commodity down till $1305/$1287 ( 50% retracement $1199 and $1374).

It is good to buy on dips around $1315 -1316 with SL around $1310 for the TP of $1325

Thank you, this is my analisys, published yersterday morning.

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