Gold Intraday: Watching for a Trigger Above Resistance
Gold (XAU/USD)
+102.75+2.42%
The upside prevails as long as 4,287 is support, with 4,374 and 4,397 as targets
Our pivot point is at 4,287.
Our preference: The upside prevails as long as 4,287 is support, with 4,374 and 4,397 as targets
Alternative scenario: below 4,287, expect 4,248 and 4,225.
Comment: Price is consolidating just below a key resistance level, setting the stage for an upside attempt.
Supports and resistances:
4,420 *
4,397 **
4,374
4,351 last
4,287 **
4,248 *
4,225 **
Our preference: The upside prevails as long as 4,287 is support, with 4,374 and 4,397 as targets
Alternative scenario: below 4,287, expect 4,248 and 4,225.
Comment: Price is consolidating just below a key resistance level, setting the stage for an upside attempt.
Supports and resistances:
4,420 *
4,397 **
4,374
4,351 last
4,287 **
4,248 *
4,225 **
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