Gold: Buy above $1322

FX_IDC:XAUUSD   Gold Spot / U.S. Dollar
231 1 10
Major resistance- $1322 (100-H MA).

Major support- $1308.

The yellow metal has declined sharply till $1308.80 level yesterday. It is currently trading around $1315.45.

The intraday resistance is around $1322 (100- H MA) and any violation above will take the commodity till $1329.60 (200- HMA and also 61.8% retracement of $1308.80 and $1342.26)/$1335 ( 38.2% retracement of $1375 and $1308.80). It should close above $1340 for further bullishness.

Technically the support is around $1310 and breaks below targets 1300/$1294 (100 day MA).

It is good to buy above $1322 with SL around $1314 for the TP of $1334/$1340
Thanks for share. Your analysis is good
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