Gold Short Term: bullish bias above 3925.
Gold (XAU/USD)
-11.88-0.29%
long positions above 3925 with targets at 4240 & 4380 in extension.
Pivot: 3925
Our preference: long positions above 3925 with targets at 4240 & 4380 in extension.
Alternative scenario: below 3925 look for further downside with 3820 & 3670 as targets.
Comment: a support base at 3925 has formed and has allowed for a temporary stabilisation.
Supports and resistances:
4500
4380
4240
4065 Last
3925
3820
3670
Our preference: long positions above 3925 with targets at 4240 & 4380 in extension.
Alternative scenario: below 3925 look for further downside with 3820 & 3670 as targets.
Comment: a support base at 3925 has formed and has allowed for a temporary stabilisation.
Supports and resistances:
4500
4380
4240
4065 Last
3925
3820
3670
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