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Short

Gold: Intraday Trade idea

FX:XAUUSD   Gold / U.S. Dollar
301 1 12
Major intraday resistance -$1340 (90 H EMA )

The yellow metal has made a high of $1336 and declined from that level. It is currently trading around $1329.

Gold             has made a low of $1320 yesterday and slightly recovered from that level.

The intraday bias is weak and is trading slightly below Tenkan-Sen ($1331) and Kijun-Sen ($1333). So a slight dip till $1318 is possible.

On the higher side, any violation above $1340 will take the yellow metal till $1353 (200 HMA )/$1357.

Indicators (hour chart)

CCI (50) – Sell

ADX (14) - Sell

It is good to sell on rallies around $1330-$1332 with SL around $1341 for the TP of $1318/$1309

it is following the ichimoku nicely
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