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After hawkish remarks from the Fed chairman, gold has been trading lower for the fifth straight day. It is currently at $4381, having fallen during the day to $4364.
|
Technicals |
CMP -$4381 |
Trend |
|
|
1- Hour chart |
Value |
|
|
|
55 EMA |
$4472 |
CMP <55 EMA |
Bearish |
|
200- EMA |
$4514 |
CMP <200- EMA |
Bearish |
|
365- EMA |
$4464 |
CMP <365 EMA |
Bearish |
|
800-EMA |
$4360 |
CMP<800 EMA |
Bullish |
Near-term support: $4360//$4300/$4200. Major bearishness below $4300. Any violation below $4300 targets $4235/$4215/$4200/$4156/$4080/$4000. Near-term resistance - $4700/$4773/$4800/$4900/$5000.
|
Momentum indicator (4-hour chart) |
Inference |
Value |
|
CCI(50) |
Bearish |
-134 |
|
ADX |
Bearish |
Strength increased from 31.04 to 35.50 |
It is good to sell on rallies around $4398-4400 with SL around $4470 for a TP of $4200.
