Gold pared most of its gains after upbeat US retail sales data. The price had reached an intra-day low of $3973 and is now trading about $3993.95.
|
Technicals |
CMP -$3993.95 |
Trend |
|
|
1- Hour chart |
Value |
|
|
|
55 EMA |
$4042 |
CMP <55 EMA |
Bearish |
|
200- EMA |
$4069 |
CMP <200- EMA |
Bearish |
|
365- EMA |
$4097 |
CMP <365 EMA |
Bearish |
Near -term support -$3970. Major bearishness below $3940. Any violation below targets $3880/$3800/$3600. Near-term resistance - $4040/$4060/$4082/$4105/$4135/$4195/$4247.
|
Momentum indicator (4-hour chart) |
Inference |
Value |
|
CCI(50) |
Bearish |
-161 |
|
ADX |
Neutral |
|
It is good to sell on rallies around $4002-$4005 with SL around $4045 for a TP of $3880/$3800.
