Description
⋅ Major intraday resistance -$1337 (90 H EMA)
The yellow metal has made a high of $1338 and declined from that level. It is currently trading around $1329.
Gold has made a low of $1323.68 yesterday and slightly recovered from that level.
The intraday bias is neutral and is trading near to Tenkan-Sen ($1331) and Kijun-Sen ($1330.44).
On the higher side, any violation above $1337 takes the yellow metal till $1353 (200 HMA)/$1357.
Indicators (hour chart)
CCI (50) – Sell
ADX (14) - neutral
It is good to buy on dips around $1328-30 with SL around $1320 for the TP of $1340/$1349