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Long

Gold: Intraday trade idea

FX:XAUUSD   Gold Spot / U.S. Dollar
237 0 5
Major intraday support -$1359

The yellow metal has declined till $1359
yesterday and slightly recovered from that level. It is currently trading around $1367.19.

The intraday trend is slightly bullish as long as support $1359 holds.

Any break below $1359 will drag the commodity till $1351 ( 61.8% retracement of $1338 and $1375).

On the higher side, resistance is around $1375 and any break above targets $1385/$1400.

Indicators

ADX- trending up

CCI (50)- Buy

It is good to buy on dips around $1365-67 with SL around $1359 for the TP of $1374/$1385
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