Due to the Ukrainian worries, gold opened a gap up on Monday and flew to a new high this year. But within one day, the demand cooled after Russia appeared to ease its stance regarding the situation in Ukraine, as a result, gold price erased all of the previous session's gains. In yesterday's trading session, gold dropped to strong support at $1,329.0, which was Monday's low. Bears will tighten their grip if the price breaks below the level of $1,329.0.

The focus now turns to the US. Trades eye today's Non-farm payroll and PMI data, Thursday's Unemployment claims, Friday's non-farm employment change. Job numbers will act as the key indicators for further trading session this week.

In the Asia's trading session, gold is trading at the level of $1,335.0

Technical view-

Positive factors-

· Holding the level of $1,329.0 Monday's high and 200EMA

· RSI favours long side, in the hourly and weekly charts

$1,333.0 is acting as strong support for intraday basis- H4 chart

Negative factors-

· Oscillators favour bears- daily chart

Intraday- go long with sl $1,331.0 and targets $1,338, $1,340, and $1,343.0

S1 $1,333.0 R1 $1,339.0

S2 $1,330.0 R2 $1,343.0

S3 $1,328.0 R3 $1,351.0

Positional- In case of close below $1,292.0, the trend changes

S1 $1,328.0 R1 $1,352.0

S2 $1,319.0 R2 $1,355.0

S3 $1,311.0 R3 $1,361.0