Menu

Search

  |   Technicals

Menu

  |   Technicals

Search

FxWirePro: Gold faces strong support at 21 day EMA, good to buy at dips

  • Major support - $1260 (21 day MA)
     
  • The yellow metal has taken support near 21 day MA and recovered from that level. It is currently trading around $1276.
     
  • Short term trend is slightly bullish as long as support 21 day MA holds.
     
  • Any breach below $1260 will drag the commodity down till $1242/$1228 in short term.
     
  • On the higher side resistance is around $1280 (Tenken-Sen) and break above targets $1285/$1300/$1304.
     
  • Gold should break above temporary top $1303 for further bullishness.

It is good to buy at dips around $1270 with SL around $1260 for the TP of $1285/$1300

 

  • Market Data
Close

Welcome to EconoTimes

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