TipTVFinance

Gold – Nervous equities may come to rescue

FX:XAUUSD   Gold Spot / U.S. Dollar
Hourly Chart

FormationFalling channel

Support – 1270, 1263, 1255

Resistance – 1279, 1284, 1295

  • Rebound from $1256.77 ran out of steam near $1280 levels. If followed by a bearish break below hourly 50-MA (currently at $1270) would shift risk in favor of a re-test of channel support at $1255.
  • The hourly RSI , at 42.00, remain in favor of bears.
  • Meanwhile, bears should treat a rebound of hourly 50-MA with caution as such a rise if followed by a break above $1280 could translate into a rally towards channel resistance seen at $1284 levels.

US equities suffered losses in the overnight trade, with DJIA             dropping 217 points. Meanwhile, treasury yields are hardly showing any signs of life despite rally in oil             . Consequently, gold             has little to worry about except technical factors. The data docket is thin as well with just weekly jobless claims due for release. Fed speak due after data release is likely to try and talk up June rate hike bets.
EN English
EN English (UK)
EN English (IN)
DE Deutsch
FR Français
ES Español
IT Italiano
PL Polski
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
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