Gold- Buy on dips
Gold showed a minor sell-off after mixed US CPI data. It hit a low of $2502.29 at the time of writing and is currently trading around $2512.
The yellow metal is trading above 34 and below 55 H EMA in the 4 hour chart ($2507 and $2505). Intraday weakness can be seen only if it breaks below $2485. A break below targets $2470/$2450 is possible.
US dollar index- It gained more than 40 pips after the data. Any close above 102 confirms minor bullishness.
The yellow metal faces minor resistance around $2515, breach above will take it to the next level of $2525/$2530.
It is good to buy on dips around $2494-95 with SL around $2485 for a TP of $2527
The yellow metal is trading above 34 and below 55 H EMA in the 4 hour chart ($2507 and $2505). Intraday weakness can be seen only if it breaks below $2485. A break below targets $2470/$2450 is possible.
US dollar index- It gained more than 40 pips after the data. Any close above 102 confirms minor bullishness.
The yellow metal faces minor resistance around $2515, breach above will take it to the next level of $2525/$2530.
It is good to buy on dips around $2494-95 with SL around $2485 for a TP of $2527
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The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.