Pivot: 1349.00
Our preference: SHORT positions below 1349 with 1329 1317 as next targets.
Alternative scenario: The upside breakout of 1349 will open the way to 1359 1377.
Comment: gold prices have struck against the channel resistance. The RSI lacks upward momentum. A test of 1329 seems more likely, as long as 1349 isn’t broken.
Trend: ST Ltd downside; MT Bearish
Key levels Comment
1377** Intraday resistance
1359** Intraday resistance
1349*** Intraday pivot point
1335 Last
1329*** Intraday support
1317** Intraday support
1305** Intraday support
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