Menu

Search

  |   Technicals

Menu

  |   Technicals

Search

Gold Cracks USD 5,000: Safe-Haven Exodus Triggers Major Technical Breakdown

Gold breaks significant support $5000 and trades well below that as demand for safe-haven assets decreases. After hitting a peak around $5415, it’s currently hovering near $4977.

 

Technicals

CMP -$4910

Trend

4- Hour chart

Value

 

 

55 EMA

$5084

CMP < 55 EMA

Bearish

200- EMA

$5034

CMP < 200- EMA

Bearish

365- EMA

$4871

CMP >365 EMA

Bullish

 

Major support- $4920/$4853/$4800. Major bearishness below $48100. Any violation below targets $4400/$4000/$3605.

 

Momentum indicator (4-hour chart)

Inference

Value

CCI(50)

Bearish

-110.86

ADX

Bearish

Strength increased from 39 to 44

 

It is good to sell on rallies around $5048-50 with SL around $5240 for a TP of $4000/$3600.

 

 

 

 

 

 

 

 

 

 

 

 

 

 

  • Market Data
Close

Welcome to EconoTimes

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