Gold once more never closed below the 365 D EMA ($3986) over the last five days. This supports little bullishness. It dropped to an intraday low of $3942 and then lingered close to $4023.36.
|
Technicals 60-MIN |
CMP -$4025 |
Trend |
|
|
4- Hour chart |
Value |
|
|
|
55 EMA |
$4011 |
CMP >55 EMA |
Bullish |
|
200- EMA |
$4078 |
CMP <200- EMA |
Bearish |
|
365- EMA |
$4153 |
CMP < 365 EMA |
Bearisj |
Major support-$3980. Major bearishness below $3940. Any violation below targets $3880/$3800/$3600. Near-term resistance - $4080/$4095/$4136/$4200/$4245/$4300/$4400.
|
Momentum indicator (4-hour chart) |
Inference |
Value |
|
CCI(50) |
Bullish |
37.56 |
|
ADX |
Neutral |
|
It is good to buy on dips around $3985-86 with SL around $3940 for a TP of $4136/$4150.


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