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Long

Gold: Buy above breakout

FX:XAUUSD   Gold / U.S. Dollar
356 0 10
Major intraday resistance -$1332 ( trend line joining $1347 and $1338)

The yellow metal has made a high of $1335 yesterday and declined from that level. It is currently trading around $1329.70

Gold             is trading in a very narrow range between $1338 and $1323.58 for the past three trading session.

The intraday bias is neutral and it should break above $1332 ( trend line resistance) for further upside.

On the higher side, any violation above $1332 takes the yellow metal till $1340/$1345 (200 HMA )/$1357.

Indicators (hour chart)

CCI (50) – buy

ADX (14) - neutral

It is good to buy above $1332 with SL around $1320 for the TP of $1340/$1349
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