TheBanker
Long

XAUUSD Overview and Trading Tip 5th July 2016

FX:XAUUSD   Gold / U.S. Dollar
Overview:
The Gold             markets rally during the course of the session on Monday, but found enough support at the level of $1350 and take correction. At this point, market is continuously sustaining on higher level, it indicate market is ready to higher. The Gold             market sentiment is still positive. The main trend of Gold             is bullish on charts and market is sustaining above the 100 days moving average on its 4 hourly chart. It is having important resistance at the level of $1360 and support level at the level of $1340. If market sustain above its resistance level , it will lead to further upside rally in the market. On its 4 hourly charts, MACD is sustaining in its positive territory and RSI is sustaining in its buying zone indicating the upcoming bearish trend in the oil             prices. On intra day basis one can go for buy on lower level strategy.


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