FxWirePro
Long

Gold: Bullish divergence and 161.8% retracement

FX_IDC:XAUUSD   Gold Spot / U.S. Dollar
590 1 12
Major support - $1180 (161.8% retracement of $1337 and $1241.50)

Minor resistance- $1200 (3- day EMA )

Pattern Formed- Bullish Divergence ( MACD and RSI )

Gold             has broken major pschycological support at $1200 and declined sharply till $1182 yesterday. It is currently trading around $1186.

The yellow metal‘s overall trend is weak but the MACD and RSI in the daily chart is showing Bullish divergence . So, slight jump till $1200 is possible.

Short term bullishness only above $1235.

On the lower side, any break below $1180 will drag the commodity down till $1170 ( 61.8% retracement of $1375 and $1046)/$1160 level.

It is good to buy on dips around $1180 with SL around $1170 for the TP of $1200
Thanks for all the wonderful and profitable charts.cheers.
Reply
EN English
EN English (UK)
EN English (IN)
DE Deutsch
FR Français
ES Español
IT Italiano
PL Polski
SV Svenska
TR Türkçe
RU Русский
PT Português
ID Bahasa Indonesia
MS Bahasa Melayu
TH ภาษาไทย
VI Tiếng Việt
JA 日本語
KO 한국어
ZH 简体中文
ZH 繁體中文
AR العربية
Home Stock Screener Forex Signal Finder Cryptocurrency Signal Finder Economic Calendar How It Works Chart Features House Rules Moderators Website & Broker Solutions Widgets Stock Charting Library Feature Request Blog & News FAQ Help & Wiki Twitter
Profile Profile Settings Account and Billing My Support Tickets Contact Support Ideas Published Followers Following Private Messages Chat Sign Out