Daily Market Technical Report - XAUUSD
OVERVIEW :
Gold prices ended the session solidly higher and scored another three-month high Wednesday.
We feel that the market will more than likely trying to reach towards the $1150 level. Technically market is looking strong on chart and prices is trading above the resistance trend line in its daily chart. In 4 hourly chart, prices is sustaining above its support of 200 and 50 DMA with appearance of golden cross. It is having an important resistance of 1150 and support at the level of 1122. If it sustains at current levels then we can expect it to show further upside movement in Gold prices.
INDICATORS:-
MACD is sustaining in its positive territory indicating the bullish trend in the prices.
STRATEGY: Gold is looking bullish on charts for next few trading session. One can go for buy on dips level strategy for intra day to mid term positions in it.
tradingsignalreviews.com
Gold prices ended the session solidly higher and scored another three-month high Wednesday.
We feel that the market will more than likely trying to reach towards the $1150 level. Technically market is looking strong on chart and prices is trading above the resistance trend line in its daily chart. In 4 hourly chart, prices is sustaining above its support of 200 and 50 DMA with appearance of golden cross. It is having an important resistance of 1150 and support at the level of 1122. If it sustains at current levels then we can expect it to show further upside movement in Gold prices.
INDICATORS:-
MACD is sustaining in its positive territory indicating the bullish trend in the prices.
STRATEGY: Gold is looking bullish on charts for next few trading session. One can go for buy on dips level strategy for intra day to mid term positions in it.
tradingsignalreviews.com
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