Ichimoku Analysis (4 Hour Chart)
Kijun-Sen- $1929
Tenken-Sen-$1945
The gold is trading slightly weak on the strong US dollar and rising US bond yields. The US dollar index showed a minor jump above 93 and any violation above 93.51 confirms bullish continuation. It hits an intraday low of $1922 and is currently trading around $1935.57. The US 10- year bond yield surged more than 20% from
On the lower side, near term support is around $1900, and any violation below targets $1860. Significant selling only below $1860. A dip till $1780/$1670 is possible.
The near term resistance is around $1942 any indicative break beyond will take the commodity till $1958/$1976/$2000/$2015.
It is good to sell below $1900 with SL 1950 around $2000 for the TP of $1780/$1700.
