Menu

Search

  |   Technicals

Menu

  |   Technicals

Search

FxWirePro: Gold Daily Outlook

Ichimoku analysis (Daily Chart)

 

Tenken-Sen- $1835

 

Kijun-Sen- $1825

 

Gold jumped more than $50 from a minor bottom around $1785 on weak US dollar.  US dollar index lost more than 70 pips from a high of 91.60 on upbeat market sentiment due to aggressive stimulus hopes. The minor sell-off in US bond yield from multi-year high is also supporting the yellow metal.

Technical:

 The yellow metal is holding well above 200- H MA at $1835. It confirms minor bullishness, a jump till $1875/$1900 likely.  On the lower side, near term support is around $1820, any indicative break below that level will take till $1800/$1780.

 

It is good to buy on dips around $1832-33 with SL around $1818 for the TP of $1900.

 

  • Market Data
Close

Welcome to EconoTimes

Sign up for daily updates for the most important
stories unfolding in the global economy.