Gold- Sell on rallies (15-min chart only for intraday)
Technical (15 min chart)-
The yellow metal trades below short-term (34 and 55 EMA ) and long-term (200- EMA).
The near–term support is around $2660, a break below targets $2640/$2624/$2610/$2600/$2570/$2560/$2545/$2520/$2470. Major bearish continuation only below 2470.The yellow metal faces minor resistance around $2670 and a breach above will take it to the next level of $2689/$2700.
Indicator (15 chart)
CCI (50)- Bearish
Average directional movement Index - Bearish
It is good to sell on rallies around $2661-62 with SL around $2670 for TP of $2624/$2600.
The yellow metal trades below short-term (34 and 55 EMA ) and long-term (200- EMA).
The near–term support is around $2660, a break below targets $2640/$2624/$2610/$2600/$2570/$2560/$2545/$2520/$2470. Major bearish continuation only below 2470.The yellow metal faces minor resistance around $2670 and a breach above will take it to the next level of $2689/$2700.
Indicator (15 chart)
CCI (50)- Bearish
Average directional movement Index - Bearish
It is good to sell on rallies around $2661-62 with SL around $2670 for TP of $2624/$2600.
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