Gold trades well above $1350, good to buy on dips
Major support - $1340 (daily Kijun-Sen)
Gold has jumped till $1367 and declined from that level .It is currently trading at $136.50.
Short term trend is bullish as long as support $1340 holds.
Any break below $1340 will drag the commodity down till $1332 (61.8% retracement of $1310.71 and $1367)/$1325 in the short term.
On the higher side, the break above $1368 will take the gold to next level $1375/$1400.
Short term weakness only below $1300.
It is good to buy on dips around $1352-1355 with SL around $1339 for the TP of $1374/1398
Gold has jumped till $1367 and declined from that level .It is currently trading at $136.50.
Short term trend is bullish as long as support $1340 holds.
Any break below $1340 will drag the commodity down till $1332 (61.8% retracement of $1310.71 and $1367)/$1325 in the short term.
On the higher side, the break above $1368 will take the gold to next level $1375/$1400.
Short term weakness only below $1300.
It is good to buy on dips around $1352-1355 with SL around $1339 for the TP of $1374/1398