Menu

Search

  |   Insights & Views

Menu

  |   Insights & Views

Search

Gold Shines on Oil Relief: Buy Dips at $4160, Targeting $4305 as Bullish EMAs Dominate

Gold  gained sharply as easing crude oil prices dragged US treasury yield lower. Having reached an intraday high of $4180, it is now at $4180.

Technicals

CMP -$4190

Trend

4- Hour chart

Value

 

 

55 EMA

$4068

CMP >55 EMA

Bullish

200- EMA

$4118

CMP >200- EMA

Bullish

365- EMA

$4225

CMP <365 EMA

Bearish

 Near -term support -$4000.  Major bearishness below $3940. Any violation below $4000 targets $3980/$3940. Near-term resistance - $4205/$4225/$4305.

Momentum indicator (4-hour chart)

Inference

Value

CCI(50)

Bullish

279.88

ADX

Bullish

Strength increased from 13.06 to 18.14

 It is good to buy on dips  around $4160-62 with SL around $4120 for a TP of $4305

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

  • Market Data
Close

Welcome to EconoTimes

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