Gold faces strong resistance at $1242, break above targets $1258/$1270

• Major resistance - $1242
   
• Major support - $1225 (7 W EMA)
   
• The commodity has made a high of $1242.80 and slightly retreated from that level. It is currently trading around $1237.
   
• Short term trend is weak as long as support $1225 holds.
   
• On the higher side any break above $1242 will take the yellow metal to next level $1258/$1261/$1270 in short term.
   
• The major support is around $1225 and break below targets $1210/$1200.The minor support is around $1235.
   
• Overall bullish invalidation only below $1200.

It is good to buy above $1242 with SL around $1235 for the TP of $1258/$1270.