Gold Intraday: Target level as a potential turning point

Gold (XAU/USD)
+2.06+0.05%
As long as 3,992 is support, look for 4,081
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Our pivot point is at 3,992.

Our preference: As long as 3,992 is support, look for 4,081

Alternative scenario: below 3,992, expect 3,961 and 3,943.

Comment: The chart structure suggests the instrument is coiling ahead of a potentially significant move.

Supports and resistances:
4,100 *
4,081 **
4,063
4,061 last
3,992 **
3,961 *
3,943 **

Disclaimer: References, analysis and trading strategies are provided by the third-party provider, Trading Central, and the point of view is based on the independent assessment and judgment of the analyst, without considering the investment objectives and financial situation of the investors. All strategic opinions do not constitute investment advice or recommendations and are for references only. Our company also does not guarantee the accuracy of the strategic views and does not take any responsibility for the negative results caused by the trading strategies.
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