Gold recovered sharply and jumped more than $30 on dollar weakness. US dollar index pared some of its gains made this week on profit booking.
RSI in Monthly chart-
US dollar index- 81.49 (Overbought)
Bearish divergence in the monthly chart (CCI- 50) (positive for gold).
It is good to buy on dips around $1640-41 With SL around $1620 for TP of $1720
RSI in Monthly chart-
US dollar index- 81.49 (Overbought)
Bearish divergence in the monthly chart (CCI- 50) (positive for gold).
It is good to buy on dips around $1640-41 With SL around $1620 for TP of $1720
Comment:
Gold flying on weak US dollar. A jump to $1680 is possible.