prices to drift lower to H&S neckline, however, weaker rebound in US durable goods orders triggered wave of USD selling. Consequently, metal jumped above 50-DMA.
On intraday basis – repeated failure to dip below $1227 (23.6% of Dec low-Mar high) followed by a recovery today above 50-DMA could yield $1250 levels.
On larger scheme of things, bulls need a break above $1263 and bears would cheer break below $1227.