Gold faces strong support at $1211, good to buy at dips
Major support- $1211 (100 W EMA)
The yellow metal has broken $1217.65 low made on Wednesday today morning and declined till $1211.52 at the time of writing.
Gold has jumped till $1234 yesterday and started to decline from that level. It is facing major resistance around $1238 (7 day EMA) and any slight bullishness only above that level.
Any indicative break above $1238 will take the commodity till $1243/$1250 level. Short term bullishness only above $1260.
On the lower side major support is around $1211 and any break below targets $1200/$1190/$1175.
StochRsi- Over sold
It is good to buy at dips around $1217 with SL around $1210 for the TP of $1225/$1235
The yellow metal has broken $1217.65 low made on Wednesday today morning and declined till $1211.52 at the time of writing.
Gold has jumped till $1234 yesterday and started to decline from that level. It is facing major resistance around $1238 (7 day EMA) and any slight bullishness only above that level.
Any indicative break above $1238 will take the commodity till $1243/$1250 level. Short term bullishness only above $1260.
On the lower side major support is around $1211 and any break below targets $1200/$1190/$1175.
StochRsi- Over sold
It is good to buy at dips around $1217 with SL around $1210 for the TP of $1225/$1235