Gold Daily Outlook

FX:XAUUSD   Gold Spot / U.S. Dollar
564 0 3
Gold             has retreated after making a high of $1209 on account of better than expected U.S existing home sales data and overall trend is bearish as long as resistance $1228 holds. It has made a low of $1184 and currently trading around $1187.

U.S existing home sales rose to highest level in 18 months in March to 5.19M compared to forecast of 4.89M.The strong data bolstered the case for the Fed to raise interest rates in few months.

US Dollar index             closed at 98.04 after making a low of 97.42.Overall trend is still bullish as long as support 97 holds. The minor resistance is around 98.50 and above that level it can reach 98.90/99.69.

On the downside major support is around $1178 and any break below will drag the commodity further down till $1160/$1140 in short term.

Long term trend reversal below $1130.

The commodity short term resistance is around $1200 and any break above would extend gains till $1209/$1225.

Overall bullishness can be seen only if it closes above $1228 (200 day MA)

Indicators ( Daily chart )

CCI (50) - Sell

Woodies CCI (14) - Sell

Ichimoku - Sell

We prefer to go sell around $1205 with stop around $1228 for the targets of $1160/$1142.

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