• Major support - $1216 (21- day EMA)
   
• Major resistance - $1245 (200- W MA)
   
• Pattern formed - Bearish divergence  
   
• The yellow metal declined once again after raising till $1243.85 on Friday as the U.S dollar gained against all major pairs. It is currently trading around $1233.29.
   
• U.S dollar index has taken support near 21- day MA and jumped slightly from that level. The index is facing major support at 100 level. Any minor weakness can be seen above that level.
   
• Gold major resistance is around $1245(200- WMA) and any break above targets $1262 (200-day MA)/ $1278 (61.8% retracement of $1375 and $1122) is likely.
   
• On the lower side, minor support are around $1233 (10- day MA) and any indicative break below targets  $1227 (61.8% retracement of $1216 and $1243.85)/$1220 (21- day EMA)/$1212 (daily Kijun-Sen).
  
  It is good to sell on rallies around $1235-$1237 with SL around $1245 for the TP of $1227/$1220.