Ichimoku Analysis (4-hour chart)
Tenken-Sen- $1502
Kijun-Sen- $1550
Gold recovered more than $80 from low of $1451 as Safe-haven demand increasing due to coronavirus. The number of deaths in Italy rose to 2503 and the people affected globally to 184976. It hits high of $1554 and is currently trading around $1528.09.
Technically, near term support is around $1500 and any violation below targets $1465/$1450/$1430.
On the higher side, immediate resistance is around $1560 and indicative break above will take the gold to the next level till $1575/$1600.
It is good to buy on dips around $1475-80 with SL around $1450 for the TP of $1550.
