• Major resistance - $1237 (61.8% retracement of $1263.95 and $1195).
   
• Gold rallied to three week high on weak U.S dollar and safe heaven demand . The yellow metal broken the major resistance at $1237 (61.8% fibo) and jumped till $1247.
   
• The yellow metal has taken support near 21- day EMA and any minor weakness can be seen only below that level. 
   
• DXY has broken major pschycological support at 100 and declined till 99.66 yesterday and is trading at 99.79 . The index is facing strong support at 99.25 and break below will drag the pair down till 98.
   
• Technically, near term resistance is $1250 and any break above will take the yellow metal till $1260 (200- day MA).
   
• On the lower side, $1229 (daily Kijun-Sen) will be acting as major support and any break below will drag the gold down till $1222 (100- day MA)/$1219 (50- day MA).
  
  It is good to buy on dips around $1235-37 with SL around $1229 for the TP of $1250/$1259.