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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
