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Gold struggles to break above 200- 4H EMA and pared most of its gains as crude oil price surge. After hitting a peak around $4800 yesterday, it’s currently hovering near $4589.
|
Technicals |
CMP -$4589 |
Trend |
|
|
4- Hour chart |
Value |
|
|
|
55 EMA |
$4621 |
CMP < 55 EMA |
Bearish |
|
200- EMA |
$4804 |
CMP < 200- EMA |
Bearish |
|
365- EMA |
$4775 |
CMP < 365 EMA |
Bearish |
Major support- $4530/$4500/$4400/$4000. Major bearishness below $4000. Any violation below targets $3605/$3000/$2800.
|
Momentum indicator (4-hour chart) |
Inference |
Value |
|
CCI(50) |
Bullish |
-110.86 |
|
ADX |
neutral |
Strength increased from 39 to 44 |
It is good to sell on rallies around $4628-30 with SL around $4800 for a TP of $4000/$3600.
