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A rise in US bond yields and a spike in oil prices, driven by renewed conflict between the US and Iran, helped gold lose its luster. It hits an intraday low of $4300; it is currently at $4338.
|
Technicals |
CMP: $ 4338 |
Trend |
|
|
4-hour chart |
Value |
|
|
|
55 EMA |
$4411 |
CMP <55 EMA |
Bearish |
|
200- EMA |
$4375 |
CMP <200- EMA |
Bearish |
|
365- EMA |
$4350 |
CMP <365 EMA |
Bearish |
Near -term support -$4300. Major bearishness below $4300. Any violation below $4300 targets $4235/$4215/$4200/$4156/$4080/$4000. Near-term resistance - $4370/$4400/$4435/$4500/$4600/$4700.
|
Momentum indicator (4-hour chart) |
Inference |
Value |
|
CCI(50) |
Bearish |
-90.12 |
|
ADX |
Neutral |
Strength increased from 16.82 to 23.44 |
It is good to sell on rallies around $4348-50 with SL around $4400 for a TP of $4235/$4200/$4000.
