Ichimoku analysis (Hourly chart)
Tenken-Sen- $1812
Kijun-Sen- $1798
Gold recovered more than $50 onboard based US dollar selling. DXY has broken 9-year trend line support and hits 32 months low on stimulus hopes and COVID-19 vaccine optimism. US ISM manufacturing index came at 57.5 in November slightly less than the estimate of 58. The intraday trend is still weaker as long as resistance $1822 holds.
Technical:
The intraday resistance to be watched is $1822 (200-H MA), any violation above targets $1837/$1860.On the lower side, near term support is around $1760 and any indicative break below that level will take till $1748/$1725.
It is good to buy on dips above $1822 with SL around $1815 for the TP of $1849.
