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Gold Surges Above $4100 Amid Geopolitical Tensions: Buy Dips Toward $4247

Though geo political conflict got worse, gold rose above $4100. The price had reached an intra-day high of $4135.89 and is now trading about $4123.73.

Technicals

CMP -$4123.73

Trend

1- Hour chart

Value

 

 

55 EMA

$4100

CMP >55 EMA

Bullish

200- EMA

$4105

CMP >200- EMA

Bullish

365- EMA

$4134

CMP <365 EMA

Bearish

 Near -term support -$4080.  Major bearishness below $3940. Any violation below  targets $4035/$4000/$3980/$3940. Near-term resistance - $4135/$5157/$4180/$4205/$4247.

Momentum indicator (4-hour chart)

Inference

Value

CCI(50)

Bullish

48

ADX

Neutral

 

 It is good to buy on dips around  $4120 with SL around $4080 for a TP of $4205/$4247

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

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