• Entertainment
  • Finance
  • Marketing
  • Real Estate
  • Technology
  • Social
National Journal Community Of e-Experts
Finance 0

Gold Flat As Equities Recovery Offsets Geopolitical Worries

By Kurt Osterberg · On April 17, 2018

Gold prices rose slightly yesterday despite better risk appetite in the marketplace to start the trading week. U.S. stock indexes ended the day higher, buoyed by some strong corporate-profit reports. In economic news, the Commerce Department reported that retail sales jumped 0.6% last month. A separate report from the New York Federal Reserve Bank showed that manufacturing activity in the region fell to 15.8 from 22.5 a month earlier.

XAU/USD is trading above the Ichimoku clouds on both the daily and 4-hourly charts, and that gives the bulls an advantage. If prices get back above the 1348/7 zone, it is likely that the market will proceed to 1353/1. Penetrating this barrier would suggest an extension to the strategic resistance in the 1359/8 area.

To the downside, the initial support sits in 1343-1341.60, occupied by the hourly Ichimoku cloud. A break below 1341.60 implies that the market will be aiming for 1340 next. If this support is broken, look for further downside with 1338 and 1336/4 as targets. The daily Kijun-Sen (twenty six-period moving average, green line) also resides in this area so the bears have to produce a daily close below there to take the reins and march towards the daily cloud.

Print Friendly, PDF & Email

Share Tweet

Kurt Osterberg

You Might Also Like

  • Finance

    6 Levels of Commitment to Change

  • Finance

    4 Tips to Retain Top Employees in a World Where Burnout Consumes Us

  • Finance

    End-to-End Testing: Avoiding Software Failure in Distributed Systems

No Comments

Leave a reply Cancel reply

Top Finance

  • Chart: Amazon’s Dominance In Ecommerce Chart: Amazon’s Dominance In Ecommerce
  • Hedge Funds In The US Hedge Funds In The US
  • 3 Best Large-Cap Blend Mutual Funds For Enticing Returns 3 Best Large-Cap Blend Mutual Funds For Enticing Returns
  • Kanban vs Scrum: Understanding the Tools for Agile Success Kanban vs Scrum: Understanding the Tools for Agile Success
  • 5 Ridiculously Useful Non-Monetary Reward Examples that Improve Employee Engagement 5 Ridiculously Useful Non-Monetary Reward Examples that Improve Employee Engagement

New Posts

  • 6 Levels of Commitment to Change

    6 Levels of Commitment to Change

    April 22, 2021
  • 4 Tips to Retain Top Employees in a World Where Burnout Consumes Us

    4 Tips to Retain Top Employees in a World Where Burnout Consumes Us

    April 22, 2021
  • End-to-End Testing: Avoiding Software Failure in Distributed Systems

    End-to-End Testing: Avoiding Software Failure in Distributed Systems

    April 22, 2021
  • When Things Look This Bad, How Can You Move Forward?

    When Things Look This Bad, How Can You Move Forward?

    April 22, 2021
  • 3 Common Mistakes to Avoid While Using 360 Multi-Rater Feedback

    3 Common Mistakes to Avoid While Using 360 Multi-Rater Feedback

    April 22, 2021
  • About
  • Contact Us
  • Privacy & Policy
  • Sitemap
  • Terms of use

Copyright © 2018-2021 NJCEE. All Rights Reserved.