DK_Investment_Consulting
Short

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

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