Gold: Sell below breakout

• Major intraday resistance -$1342 (200 HMA)
   
• The yellow metal has made a high of $1338 yesterday and declined from that level.  It is currently trading around $1331.67.
   
• Gold is trading in very narrow range between $1338 and $1323.58 for the past three trading session.
   
• The intraday bias is slightly weak and it is trading below hourly Tenkan-Sen and Kijun-Sen.
   
• The major intraday support is around $1325 (trend line joining $1320 and $1323).  
   
• Any intraday weakness can be seen only below $1325.break below targets $1316/$1309
   
• On the higher side, any violation above $1342 takes the yellow metal till $1357/$1365.

Indicators (hour chart)

CCI (50) – buy

ADX (14) - Buy

It is good to sell below $1325 with SL around $1333 for the TP of $1316/$1309