Gold - market update - sell on 4 H near strong resistance

OANDA:XAUUSD   Gold Spot / U.S. Dollar
Fundamental analysis

The world's largest gold ETF , SPDR Gold Shares saw the first increase in gold stocks since mid-April, although the increase from 739. 64 to 739. 94 tonnes was relatively modest. Crisis protection received a tailwind primarily from the weakening dollar. After its twelve-month high of the previous week, the dollar index has now entered correction mode, although the upward trend observed since the beginning of the year has remained intact. The decline in US yields also helped the precious metal. Ten-year securities fell from 2. 55 to 2. 45 percent over the course of a week.

Technical analysis

- RSI is near strong resistance, expect strong market up movement if RSI break the resistance
- MACD baselines are near bearish crossing of baselines
- sell entry at 200 day moving average and resistance trend line
May 09
Trade active
May 16
Trade closed: stop reached

Related Ideas

Home Stock Screener Forex Screener Crypto Screener Economic Calendar Shows How It Works Chart Features Pricing Refer a friend House Rules Help Center Website & Broker Solutions Widgets Charting Solutions Lightweight Charting Library Blog & News Twitter
Profile Profile Settings Account and Billing Refer a friend My Support Tickets Help Center Ideas Published Followers Following Private Messages Chat Sign Out