Tanalys

GOLD (Spot) intraday: 1401 in sight

Pivot: 1359.00

Our preference: LONG positions above 1359 with 1401 1419 as next targets.

Alternative scenario: The downside penetration of 1359 will call for 1336 1322.

Comment: gold prices are supported by a rising trend line. The RSI is above its neutrality area at 50%. A new test of 1401 seems likely.

Trend: ST Bearish; MT Bearish

Key levels Comment

1442** Intraday resistance

1419** Intraday resistance

1401** Previous high

1378 Last

1359** Intraday pivot point

1336** Intraday support

1322*** Horizontal support

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