Major intraday support -$1359
The yellow metal has declined till $1359
yesterday and slightly recovered from that level. It is currently trading around $1367.19.
The intraday trend is slightly bullish as long as support $1359 holds.
Any break below $1359 will drag the commodity till $1351 (61.8% retracement of $1338 and $1375).
On the higher side, resistance is around $1375 and any break above targets $1385/$1400.
Indicators
ADX- trending up
CCI(50)- Buy
It is good to buy on dips around $1365-67 with SL around $1359 for the TP of $1374/$1385
The yellow metal has declined till $1359
yesterday and slightly recovered from that level. It is currently trading around $1367.19.
The intraday trend is slightly bullish as long as support $1359 holds.
Any break below $1359 will drag the commodity till $1351 (61.8% retracement of $1338 and $1375).
On the higher side, resistance is around $1375 and any break above targets $1385/$1400.
Indicators
ADX- trending up
CCI(50)- Buy
It is good to buy on dips around $1365-67 with SL around $1359 for the TP of $1374/$1385