Ichimoku analysis (Hourly chart)
Tenken-Sen- $1849
Kijun-Sen- $1843.19
Gold is trading in a narrow range between $1817 and $1863.55 for the past three trading days. The minor trend reversal can happen only if it breaks above $1865. US dollar index's minor bullishness can be seen only if it breaks 91 levels. The US 10-year yield declined nearly 10% as inflation came subdued.
Technical:
It is facing strong support at $1828, violation below targets $1817/$1800/$1780/$1760.On the higher side, near term resistance is around $1870 (200-H EMA), any indicative break above that level will take till $1876/$1886 (200- H MA)/$1900.
It is good to sell on rallies around $1869-70 with SL around $1885 for the TP of $1760.
