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- Major intraday resistance -$1340 (90 H EMA)
- The yellow metal has made a high of $1336 and declined from that level. It is currently trading around $1329.
- Gold has made a low of $1320 yesterday and slightly recovered from that level.
- The intraday bias is weak and is trading slightly below Tenkan-Sen ($1331) and Kijun-Sen ($1333). So a slight dip till $1318 is possible.
- On the higher side, any violation above $1340 will take the yellow metal till $1353 (200 HMA)/$1357.
Indicators (hour chart)
CCI (50) – Sell
ADX (14) - Sell
It is good to sell on rallies around $1330-$1332 with SL around $1341 for the TP of $1318/$1309
