Ichimoku Analysis (Hourly Chart)
Tenken-Sen- $1707
Kijun-Sen- $1710
Gold is trading weak after hitting a high of $1739 on strong US dollar and jump in global stock market. The yellow metal after long consolidation has broken major trend line support $1706 and is currently trading around $1698.
On the flip side, gold is holding below trend line support and dip till $1660 likely. The minor support is around $1690/$1673.
The immediate resistance is around $1740, any indicative break beyond targets $1760/$1799.
It is good to sell on rallies around $1703-05 with SL around $1720 for the TP of $1660.
