Gold Trading Alerts:
Gold is a form of Safe Asset. It is used as currency in the forex market. Gold can be used as Investment, Hedge Instrument, majorly traded against Usd. It moves up whenever there is the geopolitical issue and economic Certainty
Spot GOLD/XAUUSD down on Friday as the US dollar Strong. Comex gold futures moved in line with our expectations. Gold was facing Strong Resistance at 1333 it was not able to Break this level. On Friday Gold went below Middle Bollinger Band.
Technical Overview:
- Gold moved Below Middle Bollinger Band
- Double Top Pattern Formation
- Downtrend Expected
- Key Levels To Watch 1332
| Resistance | Support | Pivot |
| 1342 | 1332 | |
| 1349 | 1321 | 1338.6 |
| 1355 | 1307 |
Fundamental Overview:
- As there is Ease in Geopolitical Issue Gold Slid’s from its High of 1355
- North Korea Told they will stop there nuclear program Immediately which will make USD Strong
- Another Hike Expected In May From Fed
Our Recommendation:
Our Short Term View in Gold is bearish until there are no Geopolitical tensions which lead gold moves upwards We expect It to move Towards 1321 there it can face Major Support
The post Weekly Outlook of GOLD-XAUUSD 21-April to 27-April appeared first on Multi Management & Future Solutions.
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