GOLD TOUCHES THE MAJOR SUPPORT AT 1200

Gold price reached the Fib 38.2 correction at 1236 and rebounded downwards.

It is testing the major support at of the daily trend line at 1198-1200 levels.

Expected to bounce from this psychological level and approach the first resistance at

1212-1215 zone.

If price manages to break above this zone then it can extend up to 1222-1224 area.

It may resume its downward trend from the given levels above.



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