The precious metal held the 50.0% fib reaction and the 100MA last week. We believe ahead of payroll data (Fri) the price likely to hold the support zone finds between 1306.00 and 1299.00 below this 1286.00 it’s 61.8% fib reaction and 1280.00 it’s 250MA exists.
On the North front resistance zone remains between 1341.00-1345.00 breach above rally could extend to 1360.00$.
As shown in the below chart, the price has elevated above the two-weeks falling channel. Buy the dip favors the trend.
http://www.keytomarkets.com/blog/newsletters/ktm-commodity-weekly-gold-in-recovery-mode/
Having a low at 1321.00 in today’s Asia session but facing resistance at 50MA seems at 1327.00 above this 1331.00 could possible. A daily close above 1332.00 could rally further to the resistance zone 1341.00-1345.00$.
On the North front resistance zone remains between 1341.00-1345.00 breach above rally could extend to 1360.00$.
As shown in the below chart, the price has elevated above the two-weeks falling channel. Buy the dip favors the trend.
http://www.keytomarkets.com/blog/newsletters/ktm-commodity-weekly-gold-in-recovery-mode/
Having a low at 1321.00 in today’s Asia session but facing resistance at 50MA seems at 1327.00 above this 1331.00 could possible. A daily close above 1332.00 could rally further to the resistance zone 1341.00-1345.00$.