Gold:Sell on rallies

FX_IDC:XAUUSD   Gold Spot / U.S. Dollar
371 0 9
Major intraday resistance- $1190 (7- day EMA )

Major intraday support - $1160

Gold             breaks the low of $1170.63 yesterday on account of upbeat U.S economic data and stronger U.S dollar. The yellow metal jumped slightly after hitting fresh 11- month low. It is currently trading around $1175.

According to Fed fund futures tracked by CME shows that probability of rate hike by Fed by this Dec is now at 94% .

The yellow metal‘s upside is capped by 7- day EMA ($1190) and also major psychological resistance at $1200.Any indicative break above $1200 targets $1210 (23.6% retracement of $1337 and $1171.07)/$1221.

Short term bullishness only above $1235.

On the lower side, any break below $1160 will drag the commodity down till $1147/$1130 level.

It is good to sell on rallies around $1180-85 with SL around $1200 for the TP of $1160/$1147

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