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Short

Gold: Sell on rallies

FX:XAUUSD   Gold Spot / U.S. Dollar
554 1 22
Major resistance - $1368

Major support - $1330

The yellow metal ahs once again retreated till $1333 after making a high of $1358 and it is currently trading at $1338.

The minor resistance is at $1343 (daily Tenken-Sen) and any break above targets $1348/$1358 in the short term.

On the lower side, support stands at $1330 and break below will drag the commodity down till $1315 (55 day EMA )/$1295.

It is good to sell on rallies around $1345-1348 for the TP of $1358 for the TP of $1331/$1316.     
Thx for your study but the "TP 1358" should be, "SL 1358", I guess. Have a nice & profitable trading week.
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