Gold - Flirts with $1300, strong support at $1289
Resistance - $1310, $1336, $1350
Support – $1289, $1283, $1278
Support – $1289, $1283, $1278
- Broad based USD selling helped gold re-test $1300 levels in Europe; although yesterday’s bearish inverted hammer candle is making it difficult for prices to extend gains over and above $1300 mark.
- Failure at $1300-1303 levels followed by a break below daily low of $1289 would open doors for a drop to $1283 (previous cyclical high). Next major support is seen at $1278.
- On the higher side, violation at previous day’s high of $1303.79 would expose $1310 levels.
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