Gold - Intraday dips continue to be bought

XAUUSD
XAUUSD

Gold - Intraday - We look to Buy at 1418 (stop at 1414)

The rally was sold and the dip bought resulting in little net change yesterday. The overnight dip has been bought into and there is scope for further bullish pressure going into this morning. Intraday dips continue to attract buyers and there is no clear indication that this sequence for trading is coming to an end. With our medium term bias looking to buy dips and the short term bias indicating selling interest we are faced with mixed signals. Preferred trade is to buy on dips.

Our profit targets will be 1430 and 1440

Resistance: 1430 / 1440 / 1453
Support: 1420 / 1415 / 1410