Major Intraday Resistance- $1260 (trend line joining $1277 and $1265).
Major support - $1249.60 (Oct 6th low).
The yellow metal formed a temporary bottom around $1250 and is struggling to break below that level. It is currently trading around $1256.15.
On the higher side, minor trend line resistance at $1260 will be acting as near-term resistance and any break above targets $1265/$1278 (55- 4 H EMA) in the short term.
The support is around $1249.60 and any break below will drag the commodity down till $1241/$1225 (161.8% retracement of $1241 and $1264.95).
It is good to buy above $1260 with SL around $1250 for the TP of $1278
Major support - $1249.60 (Oct 6th low).
The yellow metal formed a temporary bottom around $1250 and is struggling to break below that level. It is currently trading around $1256.15.
On the higher side, minor trend line resistance at $1260 will be acting as near-term resistance and any break above targets $1265/$1278 (55- 4 H EMA) in the short term.
The support is around $1249.60 and any break below will drag the commodity down till $1241/$1225 (161.8% retracement of $1241 and $1264.95).
It is good to buy above $1260 with SL around $1250 for the TP of $1278
