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Gold Surges Above Key EMAs, Bulls Eye Resistance Amidst Bullish Momentum

Gold gained sharply after taking support near 365- D EMA.. After hitting a low around $3956  and it’s currently hovering near $4065.

Technicals

15-min

CMP -$4067

Trend

4- Hour chart

Value

 

 

55 EMA

$4034.76

CMP > 55 EMA

Bullish

200- EMA

$4035

CMP > 200- EMA

Bullish

365- EMA

$4066

CMP > 365 EMA

Bullish

 Major support-$4035. Major bearishness below $4035. Any violation below targets $4000/$3980/$3950/$3880. Near-term resistance - $4080/$4136/$4200/$4245/$4300/$4400.

Momentum indicator (4-hour chart)

Inference

Value

CCI(50)

Bullish

111.27

ADX

Bullish

Strength increased from 27.45 to 30

 It is good to buy on dips around $4066 with SL around $4035 for a TP of $4136/$4150.

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

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