Pivot: 1322.00
Our preference: SHORT positions below 1322 with 1305 1297 in sight.
Alternative scenario: The upside breakout of 1322 will open the way to 1334 1343.
Comment: Gold prices are capped by a declining trend line and the 50 moving average. A break below 1305 would have strong bearish implications.
Trend: ST Bearish; MT Bearish
Key levels Comment
1343** Intraday resistance
1334** Intraday resistance
1322** Intraday pivot point
1313.3 Last
1305*** Intraday support
1297** Intraday support
1288** Intraday support
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