Gold is trading lower and lost more than $30 from the high of $1334 on strong US dollar . DXY rebounded sharply more than 100 pips from low of 95.16. The yellow metal hits low of $1302 and is currently trading around $1304.80.
The yellow metal is trading well below 200 H MA at $1312 and 300- H EMA at $1305.This confirms minor weakness and a dip till $1300/$1296.
On the higher side any break above $1312 confirms minor bullishness and a jump till $1317/$1321. Any break above $1334 confirms bullish continuation.
It is good to sell on rallies around $1305-$1306 with SL around $1312 for the TP of $1296.
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