Gold: Sell on rallies

• Major support - $1330(61.8% retracement of $1310.71 and $1367.15)
   
• Major resistance- $1338 (21 day MA)
   
• Gold jumped slightly from the low of $1329.79 but not able to break above 21 day MA. It is currently trading around $1333.71.
   
• The intraday bullishness can be seen only above $1338 level.
   
• On the higher side, minor resistance is around $1338 (21 day MA) and any break above targets $1344/$1347.Any break above $1347 will take the commodity to next level till $1360/$1365.
   
• Technically any break below $1330 will drag the gold down till $1325/$1315/$1310.
   
• Short term weakness only below $1300.

It is good to sell on rallies around $1337 with SL around $1347 for the TP of $1329/$1325.