Pivot: 1448.00
Our preference: LONG positions above 1448 with 1507 1539 as next targets.
Alternative scenario: The downside penetration of 1448 will call for 1418 1404.
Comment: Gold prices are supported by a rising trend line and the 50 moving average is heading up. The upside prevails, as long as 1448 is support.
Trend: ST Bearish; MT Bearish
Key levels Comment
1568** Intraday resistance
1539** Intraday resistance
1507** Intraday resistance
1481.65 Last
1448*** Intraday pivot point
1418** Intraday support
1404** Intraday support
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