Gold breaks major resistance at $1245, targets $1271/$1284
Major resistance - $1245
Major support -$1230
The yellow metal has broken major resistance around $1250 and jumped till $1252.41 at the time of writing. It is currently trading around $1249.
Short term trend is weak as long as resistance $1230 holds.
Any break below $1230 will drag the pair till $1220/$1215/$1208.
Short term bearish invalidation only below $1200. On the higher side break above $1245 confirms minor trend reversal, a jump till $1260/$1271/$1284.
It is good to buy at dips around $1240-$1245 with SL around $1230 for the TP of $1260/$1271/$1284
Major support -$1230
The yellow metal has broken major resistance around $1250 and jumped till $1252.41 at the time of writing. It is currently trading around $1249.
Short term trend is weak as long as resistance $1230 holds.
Any break below $1230 will drag the pair till $1220/$1215/$1208.
Short term bearish invalidation only below $1200. On the higher side break above $1245 confirms minor trend reversal, a jump till $1260/$1271/$1284.
It is good to buy at dips around $1240-$1245 with SL around $1230 for the TP of $1260/$1271/$1284
