Gold Intraday: continuation of the rebound.
Gold (XAU/USD)
-189.16-3.87%
long positions above 4508 with targets at 4836 & 4955 in extension.
Pivot: 4508
Our preference: long positions above 4508 with targets at 4836 & 4955 in extension.
Alternative scenario: below 4508 look for further downside with 4397 & 4288 as targets.
Comment: a support base at 4508 has formed and has allowed for a temporary stabilisation.
Supports and resistances:
5110
4955
4836
4712 Last
4508
4397
4288
Our preference: long positions above 4508 with targets at 4836 & 4955 in extension.
Alternative scenario: below 4508 look for further downside with 4397 & 4288 as targets.
Comment: a support base at 4508 has formed and has allowed for a temporary stabilisation.
Supports and resistances:
5110
4955
4836
4712 Last
4508
4397
4288
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