Gold trades well below $4200 as US yields surged sharply on a hawkish Fed hike. It hit an intraday low of $4140; it is currently at $4156.
|
Technicals |
CMP -$4156 |
Trend |
|
|
4-hour chart |
Value |
|
|
|
55 EMA |
$4306 |
CMP <55 EMA |
Bearish |
|
200- EMA |
$4343 |
CMP <200- EMA |
Bearish |
|
365- EMA |
$4338 |
CMP <365 EMA |
Bearish |
Near -term support: $ 4100. Any violation below $4100 targets $4080/$4000/$3800. Near-term resistance - $4235-/$4300/$4370/$4400/$4435/$4500/$4600/$4700.
|
Momentum indicator (4-hour chart) |
Inference |
Value |
|
CCI(50) |
Bearish |
-271 |
|
ADX |
Bearish |
Strength increased from 24 to 30.45 |
It is good to sell on rallies around $4190-91 with SL around $4235 for a TP of $4000.


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