Gold faces strong support at $1190, good to buy at dips
Major support- $1190 (55 W EMA)
The yellow metal has broken major support at $1205 and declined till $1199 at the time of writing.
Gold’s major resistance around $1218 (100 day EMA) and any slight bullishness only above that level.
Any indicative break above $1218 will take the commodity till $1225/$1235 level. Short term bullishness only above $1243 (55 day EMA).
On the lower side major support is around $1190 and any break below targets $1175/$1160.
StochRsi- Over sold
It is good to buy at dips around $1200 with SL around $1190 for the TP of $1218/$1225
The yellow metal has broken major support at $1205 and declined till $1199 at the time of writing.
Gold’s major resistance around $1218 (100 day EMA) and any slight bullishness only above that level.
Any indicative break above $1218 will take the commodity till $1225/$1235 level. Short term bullishness only above $1243 (55 day EMA).
On the lower side major support is around $1190 and any break below targets $1175/$1160.
StochRsi- Over sold
It is good to buy at dips around $1200 with SL around $1190 for the TP of $1218/$1225
