Gold hits 6-week high on US bond yields decline. Having reached a high of $4302, it is now at $4262.
|
Technicals |
CMP -$4262 |
Trend |
|
|
4- Hour chart |
Value |
|
|
|
55 EMA |
$4105 |
CMP >55 EMA |
Bullish |
|
200- EMA |
$4126 |
CMP >200- EMA |
Bullish |
|
365- EMA |
$4226 |
CMP >365 EMA |
Bullish |
Near -term support -$4220. Any violation below $4220 targets $4200/$4169/$4126/$4080/$4000. Near-term resistance - $4305/$4339.Any close above $4340 confirms further bullishness; a jump to $4400/$4500 possible.
|
Momentum indicator (4-hour chart) |
Inference |
Value |
|
CCI(50) |
Bullish |
255 |
|
ADX |
Bullish |
Strength increased from 18.14 to 35.90 |
It is good to buy on dips around $4220-22 with SL around $4160 for a TP of $4340/$4400.
