Menu

Search

  |   Technicals

Menu

  |   Technicals

Search

Gold: Bearish divergence and overbought

Gold has halted its 6 days of winning streak on account of profit booking. The yellow metal hits high of $1346.80 and lost nearly $10 from the high. It hits low of $1336.95 and is currently around $1338.82.

 

In the daily chart momentum indicator RSI is around 74.60 overbought zone and showing bearish divergence.

 

On the lower side, near term support is around $1336 (23.6% fib) and any violation below targets $1330/$1320. It should break below $1300 for further weakness.

 

The yellow metal is facing near term resistance around $1350 and break above will take the gold to next level till $1360/$1365.The yellow metal should break above $1365 for further bullishness.

It is good to sell on rallies around $1343-44 with SL around $1350 for the TP of $1330.

 

 

  • ET PRO
  • Market Data

Market-moving news and views, 24 hours a day >

March 22 19:00 UTC Released

USFCOJ Stock

Actual

0.634 Pounds B

Forecast

Previous

0.605 Pounds B

March 22 19:00 UTC Released

USBeef Stocks

Actual

479.282 Pounds M

Forecast

Previous

510.065 Pounds M

January 31 00:00 UTC 599913599913m

ARAnnual Primary Balance*

Actual

Forecast

2016 bln ARS

Previous

Bln AR bln ARS

January 31 00:00 UTC 599913599913m

ARAnnual Primary Balance*

Actual

Forecast

2016 bln ARS

Previous

Bln AR bln ARS

January 22 19:00 UTC 611733611733m

ARTrade Balance

Actual

Forecast

Previous

-1541 %

January 31 00:00 UTC 599913599913m

ARAnnual Primary Balance*

Actual

Forecast

2016 bln ARS

Previous

Bln AR bln ARS

January 22 19:00 UTC 611733611733m

ARTrade Balance

Actual

Forecast

Previous

-1541 %

January 31 00:00 UTC 599913599913m

ARAnnual Primary Balance*

Actual

Forecast

2016 bln ARS

Previous

Bln AR bln ARS

January 31 00:00 UTC 599913599913m

ARAnnual Primary Balance*

Actual

Forecast

2016 bln ARS

Previous

Bln AR bln ARS

January 31 00:00 UTC 599913599913m

ARAnnual Primary Balance*

Actual

Forecast

2016 bln ARS

Previous

Bln AR bln ARS

Close

Welcome to EconoTimes

Sign up for daily updates for the most important
stories unfolding in the global economy.