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Gold Pulls Back After Hitting $4,180 as Geopolitical Risk Sends Crude Higher 
Gold gained sharply as escalation of geopolitical tensions pushed oil prices higher. After hitting a high of $4141 yesterday, it’s currently hovering near $4132.
|
Technicals |
CMP -$4132 |
Trend |
|
|
1- Hour chart |
Value |
|
|
|
55 EMA |
$4069 |
CMP >55 EMA |
Bullish |
|
200- EMA |
$4053 |
CMP> 200 EMA |
Bullish |
|
365- EMA |
$4074 |
CMP >365 EMA |
Bullish |
Near -term support -$4080. Major bearishness below $3940. Any violation below $4080 targets $4060/$4035/$4000/$3980/$3940. Near-term resistance - $4161/$4205/$4245/$4269/$4300/$4400.
|
Momentum indicator (4-hour chart) |
Inference |
Value |
|
CCI(50) |
Bullish |
111.35 |
|
ADX |
Neutral |
|
It is good to buy on dips around $4120-21 with SL around $4080 for a TP of $4205/$4300.
