Menu

Search

  |   Technicals

Menu

  |   Technicals

Search

Gold faces major resistance around $1205, break above targets $1258/$1300

  • Major resistance -$1205 (trend line joining $1387 and $1307)
     
  • Major support - $1148 (55 W EMA)
     
  • The commodity has made a high of $1200 and slightly declined from that level. It is currently trading around $1188.
  • Gold faces strong resistance around $1205 and any break above will take the commodity to next level around $1258/$1300 in short term.
     
  • On the lower side major support is around $1148 and break below will drag the commodity down till $1133/$1124/$1112. The minor support is at $1169/$1154.
     
  • Overall bullish invalidation only below $1100.

It is good to buy only above $1205 with SL around $1168 for the TP of  $1258/$1300

 

  • Market Data
Close

Welcome to EconoTimes

Sign up for daily updates for the most important
stories unfolding in the global economy.