US Dollar Index -Trend neutral. US Dollar index has recovered slightly after declining below 97 level. It hits high of 97.37 and is currently trading around 97.27.
US 10 year yield- Overall trend negative. It has shown a minor jump of 4% after hitting 21-month fresh low at 2.05%. It is currently trading around 2.11%.
S&P500: Short term trend - Bullish.It has jumped more than 3.5% in pat three days on rate cut hopes and US-Mexico trade optimism.
Gold declined sharply more than $15 after hitting high of $1344 due to strength in global markets.It is currently trading around $1332.
On the higher side, near term resistance is around $1325 (23.6% fib) and any violation above will take the yellow metal to next level till $1318/$1314.
The near term support is around $1325 (23.6% fib) and any break below confirms minor weakness a dip till $1318/$1314 (5- day MA). Any major weakness only below $1298.
It is good to buy on dips around $1325-26 with SL around $1318 for the TP of $1345.
