• Major support - $1216 (21- day EMA)
   
• Major resistance - $1245 (200- W MA)
   
• The yellow metal rose yesterday as the U.S dollar declined along U.S 10 year treasury bond yields. Gold hits the high of $1242.64 yesterday. It is currently trading around $1237.71.
   
• U.S dollar index broken the major support at 100.60 (21- day EMA) and declined till 100.41. The index is facing  major support at 100 level. Any minor weakness can be seen above that level.
   
• Gold major resistance is around $1245(200- WMA) and any break above targets $1262 (200-day MA)/ $1278 (61.8% retracement of $1375 and $1122) is likely.
   
• On the lower side, minor support are around $1232 (10- day MA) and any indicative break below targets $1216 (21- day EMA)/$1212 (daily Kijun-Sen) $1208 (55- day EMA). The minor support is around $1229 (10- day MA)/$1225 (daily Kijun-Sen).
  
  It is good to buy on dips around $1230-$1232 with SL around $1218 for the TP of $1260.