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Gold Rebounds Past $4450: Bullish Structure Targets $4700 Resistance

Gold recovered sharply above $4450 on board-based US dollar and easing Geo political tension. Having reached an intraday high of $4491, it is now at $4488.

Technicals

CMP -$4486

Trend

4- Hour chart

Value

 

 

55 EMA

$4339

CMP >55 EMA

Bullish

200- EMA

$4228

CMP >200- EMA

Bullish

365- EMA

$4263

CMP >365 EMA

Bullish

 Near -term support -$4000.  Major bearishness below $4300. Any violation below $4300 targets $4235/$4215/$4200/$4156/$4080/$4000. Near-term resistance - $4500/$4595/$4700.

Momentum indicator (4-hour chart)

Inference

Value

CCI(50)

Bullish

136.31

ADX

Neutral

 

 It is good to buy on dips  around $4358-60 with SL around $4300 for a TP of $4700.

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