Gold downside capped by 61.8% fibo, good to buy above $1332

13 September 2016, 15:49
Eko Rediantoro
0
8

  • Major resistance - $1345
     
  • The yellow metal has recovered sharply from the low of $1320 made yesterday. It is currently trading around $1330.34. 
     
  • Intraday support is around $1321 (61.8% retracement of $1302.55 and $1352.61) and any break below that level will drag the yellow metal down till $1311/$1306 (90- day EMA). 
     
  • Gold  is facing major intraday resistance around $1332 (21- day MA) and any break above targets $1345 (61.8% retracement of $1352.61 and $1335)/$1352. 
     
  • Short term weakness only below $1300. 

    It is good to buy above $1332 with SL  around $1323 for the TP of $1344/$1352


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