Major resistance – $1332 (21-day MA).
Major support - $1321 (55- day EMA).
The yellow metal has taken support near 90-day EMA and recovered sharply from the low of $1302.61. It is currently trading around $1326.
Gold should break above 21-day MA targets $1342/$1348 (61.8% retracement of $1375 and $1302.69).
On the lower side, support stands at $1321 and any violation below targets $1311/$1303.56.
Short term weakness only below $1300.
It is good to buy above $1332 with SL around $1321 for the TP of $1342/$1348
Major support - $1321 (55- day EMA).
The yellow metal has taken support near 90-day EMA and recovered sharply from the low of $1302.61. It is currently trading around $1326.
Gold should break above 21-day MA targets $1342/$1348 (61.8% retracement of $1375 and $1302.69).
On the lower side, support stands at $1321 and any violation below targets $1311/$1303.56.
Short term weakness only below $1300.
It is good to buy above $1332 with SL around $1321 for the TP of $1342/$1348