Gold vs US 10-year yield (Bearish and bullish divergence)
Chart pattern
Gold- CCI (50) Bearish divergence (Daily chart)
US 10- year yield - CCI (50) Bullish divergence (Daily chart)
The near–term support is around $2570, a break below the target of $2560/$2544/$2535/$2520. The yellow metal faces minor resistance around $2590 and a breach above will take it to the next level of $2622/$2650.
Indicator (Daily chart)
CCI (14)- Bullish
CCI (50)- Bullish
Average directional movement Index - Bullish
It is good to sell on rallies around $2584-85 with SL around $2600 for TP of $2545/$2520.
Gold- CCI (50) Bearish divergence (Daily chart)
US 10- year yield - CCI (50) Bullish divergence (Daily chart)
The near–term support is around $2570, a break below the target of $2560/$2544/$2535/$2520. The yellow metal faces minor resistance around $2590 and a breach above will take it to the next level of $2622/$2650.
Indicator (Daily chart)
CCI (14)- Bullish
CCI (50)- Bullish
Average directional movement Index - Bullish
It is good to sell on rallies around $2584-85 with SL around $2600 for TP of $2545/$2520.
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