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Gold Cracks Below $4150 as Hawkish Fed Sparks Yield Surge — Bears Target $4000 if $4100 Support Gives Way

Gold trades well below $4200 as US yields surged sharply on a hawkish Fed hike. It hit an intraday low of $4140; it is currently at $4156.

 

Technicals

CMP -$4156

Trend

4-hour chart

Value

 

 

55 EMA

$4306

CMP <55 EMA

Bearish

200- EMA

$4343

CMP <200- EMA

Bearish

365- EMA

$4338

CMP <365 EMA

Bearish

 Near -term support: $ 4100. Any violation below $4100 targets $4080/$4000/$3800. Near-term resistance - $4235-/$4300/$4370/$4400/$4435/$4500/$4600/$4700.

Momentum indicator (4-hour chart)

Inference

Value

CCI(50)

Bearish

-271

ADX

Bearish

Strength increased from 24 to 30.45

 It is good to sell on rallies around $4190-91 with SL around  $4235 for a TP of $4000.

 

 

 

 

 

 

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