Comex Market Analysis and Trading Tips 7th April 2016 - XAUUSD
Overview:
Gold futures edged higher in European trade on Thursday, after minutes from the Federal Reserve’s latest policy meeting underscored caution about future rate hikes. Gold Comex division tacked on $6.40, or 0.52%, to trade at $1,230.20 a troy ounce by 06:59GMT. A day earlier, gold lost $5.80, or 0.47%.
On technical chart, Short term trend of Gold is bullish on chart. On its, Daily chart, market is taking support of 50 SMA . It is sustaining above Daily trend-line & 50 SMA on 4-Hourly Charts. Now it can test the next resistance of 1245. On Lower side it is having good support of significant level of 1207 on Daily charts.
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Gold futures edged higher in European trade on Thursday, after minutes from the Federal Reserve’s latest policy meeting underscored caution about future rate hikes. Gold Comex division tacked on $6.40, or 0.52%, to trade at $1,230.20 a troy ounce by 06:59GMT. A day earlier, gold lost $5.80, or 0.47%.
On technical chart, Short term trend of Gold is bullish on chart. On its, Daily chart, market is taking support of 50 SMA . It is sustaining above Daily trend-line & 50 SMA on 4-Hourly Charts. Now it can test the next resistance of 1245. On Lower side it is having good support of significant level of 1207 on Daily charts.
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