Gold trades slightly well above 21 day MA, jump till $1360 likely

• Major resistance - $1338 (21 day MA)
   
• The yellow metal has made a high of $1342 yesterday after breaking short term resistance $1325 (200 HMA). It is currently trading around $1339.
   
• Any short term weakness can be seen only below $1325 (200 HMA).The break below short-term support $1325 will drag the commodity down till $1312/1297 (61.8% retracement of $1250 and $1375).
   
• On the higher side, major intraday resistance is around $1338 and any indicative break above $1338 targets $1350/$1360.

It is good to buy on dips around $1335 with SL around $1324 for the TP of $1350/$1360.