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Gold Flashes Bullish Signals Amidst Shifting Technical Landscape

Though gold has shown false breakdown below 365 -D EMA, it has never closed below these level for the last five days. It reached an intraday low of $3942 and now it's around $4014.50.

Technicals

15-min

CMP -$4033

Trend

4- Hour chart

Value

 

 

55 EMA

$4416

CMP <55 EMA

Bearish

200- EMA

$4350

CMP <200- EMA

Bearish

365- EMA

$3986

CMP > 365 EMA

Bullish

 Major support-$3980. Major bearishness below $3940. Any violation below targets $3880/$3800/$3600. Near-term resistance - $4080/$4095/$4136/$4200/$4245/$4300/$4400.

Momentum indicator (4-hour chart)

Inference

Value

CCI(50)

Bearish

-155.51 (Hidden divergence)

ADX

Bearish

Strength increased from 32 to 40.93

 It is good to buy on dips around $3985-86, with an SL around $3940, for a TP of $4136/$4150.

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

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