Major intraday resistance $1233 (Nov 16th high)
Major support - $1200
The yellow metal is trading in narrow range between $1233 and $1211 for the past three session.
Gold declined till $1221 yesterday and recovered from that level. It is currently trading around $1227.
On the higher side, resistance stands at $1233 any break above targets $1241 (23.6% retracement of $1337 and $1211)/$1256 (200- HMA).
The major support is around $1207 (100- W MA) and any break below will drag the yellow metal down till $1200/$1172 (61.8% retracement of $1046.50 and $1375).
It is good to buy above $1233 with SL around $1221 for the TP of $1255
Major support - $1200
The yellow metal is trading in narrow range between $1233 and $1211 for the past three session.
Gold declined till $1221 yesterday and recovered from that level. It is currently trading around $1227.
On the higher side, resistance stands at $1233 any break above targets $1241 (23.6% retracement of $1337 and $1211)/$1256 (200- HMA).
The major support is around $1207 (100- W MA) and any break below will drag the yellow metal down till $1200/$1172 (61.8% retracement of $1046.50 and $1375).
It is good to buy above $1233 with SL around $1221 for the TP of $1255