TipTVFinance

Gold to remain on front foot unless Fed rate hike bets spike

FX_IDC:XAUUSD   GOLD / US DOLLAR
Resistance - $1300-1320, $1350, $1400

Support - $1253, $1227-1223, $1190

  • Prices clocked a high of $1287 levels.
  • Gold’s repeated failure to take out $1227 (23.6% of Dec low – Mar high) followed by a bullish daily close above flag pattern on daily chart indicates prices could cut through $1284 and move towards $1300-1320 levels.
  • On monthly chart, strong rebound from falling channel marks a convincing bullish break. This adds credence to the bullish action on daily chart .
  • A break above $1320 would expose $1350 levels.
  • The bullish bias is at risk if prices see a daily close below $1263, while bears would make a comeback below $1227 levels.
Ideas Scripts Chart
United States
United Kingdom
India
España
Italia
Brasil
Россия
Türkiye
日本
한국
Home Stock Screener Economic Calendar How It Works Chart Features House Rules Moderators For the WEB Widgets Stock Charting Library Priority Support Feature Request Blog & News FAQ Help & Wiki Twitter
Private Messages Chat Ideas Published Followers Following Priority Support Public Profile Profile Settings Billing Sign Out