Gold Intraday: First target, continuation or consolidation?
Gold (XAU/USD)
+43.05+0.98%
The upside prevails as long as 4,327 is support, with 4,440 and 4,469 as targets
Our pivot point is at 4,327.
Our preference: The upside prevails as long as 4,327 is support, with 4,440 and 4,469 as targets
Alternative scenario: below 4,327, expect 4,277 and 4,248.
Comment: Prices are now within reach of our first target, a level that could invite the price to consolidate. On the flip side, a clear break above it may well sustain the upward move.
Supports and resistances:
4,499 *
4,469 **
4,440
4,410 last
4,327 **
4,277 *
4,248 **
Our preference: The upside prevails as long as 4,327 is support, with 4,440 and 4,469 as targets
Alternative scenario: below 4,327, expect 4,277 and 4,248.
Comment: Prices are now within reach of our first target, a level that could invite the price to consolidate. On the flip side, a clear break above it may well sustain the upward move.
Supports and resistances:
4,499 *
4,469 **
4,440
4,410 last
4,327 **
4,277 *
4,248 **
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