Gold – Tug of war between Bulls and Bears continues..
Resistance – 1263, 1270, 1283
Support – 1238, 1227, 1220
Support – 1238, 1227, 1220
- We were expecting prices to drift lower to H&S neckline, however, weaker rebound in US durable goods orders triggered wave of USD selling. Consequently, metal jumped above 50-DMA.
- On intraday basis – repeated failure to dip below $1227 (23.6% of Dec low-Mar high) followed by a recovery today above 50-DMA could yield $1250 levels.
- On larger scheme of things, bulls need a break above $1263 and bears would cheer break below $1227.
Publications connexes
Clause de non-responsabilité
Les informations et les publications ne sont pas destinées à être, et ne constituent pas, des conseils ou des recommandations en matière de finance, d'investissement, de trading ou d'autres types de conseils fournis ou approuvés par TradingView. Pour en savoir plus, consultez les Conditions d'utilisation.