Markets eye US CPI data for further direction.
Factors to watch for gold price action-
Global stock market- Bullish (Negative for gold)
US dollar index –Bearish (positive for gold)
US10-year bond yield- Bullish (negative for gold)
Technical:
The near–term support is around $1825, violation below targets $1810/$1800/$1770/$1750. Significant reversal only below $1750.The yellow metal faces strong resistance of $1840, any violation above will take to the next level $1853/$1860/$1877/$1912 is possible.
It is good to sell on rallies for $1834-35 with SL around $1851 for TP of $1780.
DISCLAIMER: ((trade based on your own decision ))
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Factors to watch for gold price action-
Global stock market- Bullish (Negative for gold)
US dollar index –Bearish (positive for gold)
US10-year bond yield- Bullish (negative for gold)
Technical:
The near–term support is around $1825, violation below targets $1810/$1800/$1770/$1750. Significant reversal only below $1750.The yellow metal faces strong resistance of $1840, any violation above will take to the next level $1853/$1860/$1877/$1912 is possible.
It is good to sell on rallies for $1834-35 with SL around $1851 for TP of $1780.
DISCLAIMER: ((trade based on your own decision ))
<<press like👍 if you enjoy💚>>