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- Major resistance - $1338 (21 day MA).
- The yellow metal has slightly retreated after making a high of $1354.75. It is currently trading around $1348.80..
- Any short term weakness can be seen only below $1338 (21 day MA).The break below short-term support $1338 will drag the commodity down till $1329 (200 HMA)/$1315.
- On the higher side, major intraday resistance is around $1355 (29th Jul 2016 high) and any indicative break above $1355 targets $1360/$1370.
It is good to buy on dips around $1345-47 with SL around $1338 for the TP of $1360/$1374.
