Gold faces strong support at $1100, good to buy at dips
Major resistance -$1131 (200 day MA)
Major support - $1100 (20 day MA)
Gold has declined till $1108 after making a high of $1127. It is currently trading around $1120.
Short term trend is slightly bullish as long as support $1100 holds. Any break below $1100 will drag the pair till $1090/$1080.
Short term weakness only below $1070.
On the higher side any break above $1131 will take the pair till $1150/$1175.
It is good to buy at dips around $1115-$1120 with SL around $1100 for the TP of $1150/$1174
Major support - $1100 (20 day MA)
Gold has declined till $1108 after making a high of $1127. It is currently trading around $1120.
Short term trend is slightly bullish as long as support $1100 holds. Any break below $1100 will drag the pair till $1090/$1080.
Short term weakness only below $1070.
On the higher side any break above $1131 will take the pair till $1150/$1175.
It is good to buy at dips around $1115-$1120 with SL around $1100 for the TP of $1150/$1174