Gold and US 10 year –bond yield (Slight jump in Gold till $1170 is possible)
Major resistance – $1153 (21- day EMA). Gold jumped sharply from the low of $1136 and jumped till $1149.78 at the time of writing. The yellow metal is showing slight jump on account of decline in U.S 10 year treasury yie…
Gold jumped sharply from the low of $1136 and jumped till $1149.78 at the time of writing. The yellow metal is showing slight jump on account of decline in U.S 10 year treasury yields. It is currently trading around $1147.54.
US 10 –year yields declined from the high of 2.62% made on 15th Dec 2016. The 10 –year yields declined till 2.50%. In the hourly chart US 10 year bond yields is trading slightly weak. The minor support is around 2.50% (100- HMA) and any break below will drag the yields down till 2.41% (200 – HMA).
Technically Gold is facing minor resistance at $1153 (21- day EMA) and any break above will take the pair till $1171 (daily Kijun-Sen)/$1175 (34- day EMA)/ $1188 (Dec 4th 2016 high)/$1197.
On the lower side any close below $1116 (78.6% retracement of $1046 and $1375) and any violation below will drag the pair down till $1100/$1085.
It is good to buy above $1153 with SL around $1145 for the TP of $1171/$1175.
