Major resistance - $1325 (200 HMA)
The yellow metal has made a high of $1324.36 yesterday and slightly declined from that level. It is currently trading around $1319.29.
Any short term weakness can be seen only below $1312 (trend line joining $1310.70 and $1312.31).The break below short-term support $1312 will drag the commodity down till $1305/1297 (61.8% retracement of $1250 and $1375).
On the higher side, major intraday resistance is around $1325 (200 HMA) and any indicative break above $1324 targets $1336/$1350.
It is good to buy above $1325 with SL around $1312 for the TP of $1336/$1350.
The yellow metal has made a high of $1324.36 yesterday and slightly declined from that level. It is currently trading around $1319.29.
Any short term weakness can be seen only below $1312 (trend line joining $1310.70 and $1312.31).The break below short-term support $1312 will drag the commodity down till $1305/1297 (61.8% retracement of $1250 and $1375).
On the higher side, major intraday resistance is around $1325 (200 HMA) and any indicative break above $1324 targets $1336/$1350.
It is good to buy above $1325 with SL around $1312 for the TP of $1336/$1350.
