Gold: Intraday Trade idea

• Major intraday resistance -$1347 (90 H EMA)
   
• The yellow metal has made a high of $1347 and declined from that level. It is currently trading around $1337.
   
• The intraday bias is weak and is trading slightly below Tenkan-Sen ($1342.70) and Kijun-Sen ($1337). So a slight dip till $1327/$1318 is possible.
   
• On the higher side, any violation above $1347 will take the yellow metal till $1353 (200 HMA)/$1357.

Indicators (hour chart)

CCI (50) – Sell

ADX (14) - Neutral

It is good to sell on rallies around $1338-$1340 with SL around $1347 for the TP of $1328/$1320