Pivot: 1324.00
Our preference: LONG positions above 1324 with 1348 1357 as next targets.
Alternative scenario: The downside penetration of 1324 will call for a slide towards 1309 1298.
Comment: Gold prices have cleared a declining resistance line and the RSI is above its neutrality area at 50%.
Trend: ST Ltd upside; MT Bullish
Key levels Comment
1365** Horizontal resistance
1357** Horizontal resistance
1348** Intraday pivot point
1338.2 Last
1324** Intraday support
1309** Intraday support
1298*** Intraday support
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