Gold- Sell on rallies (15-min chart only for intraday)
Technical (15 min chart)-
The yellow metal trades below short-term (34 and 55 EMA ) and long-term (200- EMA).
The near–term support is around $2660, a break below targets $2640/$2624/$2610/$2600/$2570/$2560/$2545/$2520/$2470. Major bearish continuation only below 2470.The yellow metal faces minor resistance around $2670 and a breach above will take it to the next level of $2689/$2700.
Indicator (15 chart)
CCI (50)- Bearish
Average directional movement Index - Bearish
It is good to sell on rallies around $2661-62 with SL around $2670 for TP of $2624/$2600.
The yellow metal trades below short-term (34 and 55 EMA ) and long-term (200- EMA).
The near–term support is around $2660, a break below targets $2640/$2624/$2610/$2600/$2570/$2560/$2545/$2520/$2470. Major bearish continuation only below 2470.The yellow metal faces minor resistance around $2670 and a breach above will take it to the next level of $2689/$2700.
Indicator (15 chart)
CCI (50)- Bearish
Average directional movement Index - Bearish
It is good to sell on rallies around $2661-62 with SL around $2670 for TP of $2624/$2600.
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Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.