Gold Intraday: Pivot threshold in sight
Gold (XAU/USD)
+116.21+2.68%
The downside prevails as long as 4,386 is resistance, with 4,297 and 4,276 as targets
Our pivot point is at 4,386.
Our preference: The downside prevails as long as 4,386 is resistance, with 4,297 and 4,276 as targets
Alternative scenario: above 4,386, look for 4,421 and 4,442.
Comment: The asset's price is approaching our pivot level at a critical juncture, leaving little room for the asset to reverse its current trajectory.
Supports and resistances:
4,442 **
4,421 *
4,386 **
4,367 last
4,297
4,276 **
4,255 *
Our preference: The downside prevails as long as 4,386 is resistance, with 4,297 and 4,276 as targets
Alternative scenario: above 4,386, look for 4,421 and 4,442.
Comment: The asset's price is approaching our pivot level at a critical juncture, leaving little room for the asset to reverse its current trajectory.
Supports and resistances:
4,442 **
4,421 *
4,386 **
4,367 last
4,297
4,276 **
4,255 *
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