Chart pattern Bearish divergence
Gold has shown nearly $20 from the high of $1439 on account of profit booking. The yellow metal was trading higher for 1 week and jumped nearly $100 after the dovish Fed meeting. The escalation of geopolitical tension between the US and Iran is also supporting the gold price.
US dollar index continues to trade lower and is trading below 300-day EMA.This confirms further weakness and a decline till 95 is possible.
US 10 year yield is also in the oversold zone and bullish divergence in CCI (50) shows that there will be a slight jump which is slightly negative for gold.
Technically, near term resistance is around $1440 and any break above that level targets $1460/$1480.
On the flip side, near term support is around $1411 (23.6% fib of $1275 and $1411.70) and any break below confirms minor weakness and a dip till $1400/$1382.
It is good to sell on rallies around $1434-35 with SL around $1442 for the TP of $1382.


US Magnificent 7 Stocks Trend Score: Amazon & Microsoft Hit Extreme Bullish (+100) as Meta Drops to -100 — Key Resistance & Support Watchlist
FxWirePro- Woodies pivot (Major)
AUD/JPY Slips Below 112 as BOJ Intervention Sparks Bearish Momentum: Sell the Rallies
FxWirePro: GBP/NZD remains weak, eyes 38.2%fib support
FxWirePro- Major Pair levels and bias summary
FxWirePro: GBP/AUD drifts lower after BOE rate decision
Major European Indices Score Extremely Bullish: DAX Eyes 26000, CAC Targets 8600, FTSE100 at 11000 – Key Levels to Watch
US Magnificent 7 Stocks Trend Score: Amazon & Microsoft Hit Extreme Bullish (+100) as Meta Drops to -100 — Key Resistance & Support Watchlist
FxWirePro: GBP/AUD bears maintain upper hand
FxWirePro- Major Pair levels and bias summary
FxWirePro- Woodies pivot (Major)
FxWirePro: USD/CAD retreats after Canada posts stronger-than-expected GDP growth
FxWirePro: GBP/USD rises as soft US data pressures dollar
JPY Currency Meter Signals: NZDJPY Bullish (+25) vs CHFJPY (-100) – These Pairs Could Move Next
Major FX Action Bias & US Market Sentiment: NZD/USD (Extremely Bullish) & AUD/USD (Bullish) Watchlist
FxWirePro:USD/JPY climbs back above 160.00 after BOJ rate decision 



