TheBanker
Long

XAU/USD - Gold Market Overview - 4th July 2016

FX_IDC:XAUUSD   GOLD / US DOLLAR
Overview:
The Gold             markets rally during the course of the session on Friday, touching the $1350 level. At this point in time, Gold             sentiment is bullish and market is ready to go higher, as buyers are still interested in the market. The main trend of Gold             is bullish on charts and and market is sustaining above the 100 days moving average on its 4 hourly chart. It is having important resistance at the level of $1360 and support level at the level of $1340. On its 4 hourly charts, MACD is sustaining in its positive territory and RSI is sustaining in its buying zone indicating the upcoming bearish trend in the oil             prices. On intra day basis one can go for buy on lower level strategy.

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Comment: still going, stops at b/e
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