Gold faces strong resistance at $1100,good to sell on rallies
Gold has recovered from the low of $1046 and is currently trading around $1069. Short trend is still weak as long as resistance $1100 holds.
Any break above $1100 will take the commodity till $1120/$1145.Overall bearish invalidation only above $1150 level. The minor resistance is around $1085.
On the downside minor support is at $1060 and break below targets $1040/$1026.
It is good to sell on rallies around $1075-80 with SL around $1100 for the TP of $1045/$1026
Any break above $1100 will take the commodity till $1120/$1145.Overall bearish invalidation only above $1150 level. The minor resistance is around $1085.
On the downside minor support is at $1060 and break below targets $1040/$1026.
It is good to sell on rallies around $1075-80 with SL around $1100 for the TP of $1045/$1026