- Major resistance – $1250 (trend line joining $1263 and $1253)
- Major support -$1220
- Gold has made a high of $1248 and started to decline from that level. It is currently trading at $1246.
- Short term trend is still bullish as long as $1220 holds.
- On the higher side any break above $1250 confirms minor trend reversal , a jump till $1260/$1275 is possible.
- Gold is facing major support is around $1220 and break below targets $1210/$1198.
- Overall bearish invalidation only below $1198.
It is good to buy at dips around $1235 with SL around $1220 for the TP of $1275/$1300
The material has been provided by InstaForex Company – www.instaforex.com