Daily Market Analysis 4 May 2022

Daily Market Analysis 4 May 2022

  • Market News
  • Daily Market News
  • 2022, 04 May

GOLD

Technical Outlook

XAU/USD mocks $1,870 on the daily chart. An oversold market condition resulted in the much anticipated bounce back. A hold above 200-EMA key to gain further upside levels.

A stronger US dollar keeps gain limited


Technical Indicators 
Action
RSI (35)
SELL
Oscillator (12)
SELL
MACD (Below Midline) 
SELL
200 EMA ($1858)
BUY


Strategy

Action
Sell
Entry
$1,990
Target 1
$1,980
Target 2
$1,970
Stop Loss
$2,000


Key Signposts

Fed Rate Decision

READ MORE

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