Pivot: 1485.00
Our preference: SHORT positions below 1485 with 1448 1418 as next targets.
Alternative scenario: The upside penetration of 1485 will call for a rebound towards 1507 1539.
Comment: gold prices have broken below a rising trend line and are capped the declining 20-day moving average (currently at 1474).
Trend: ST Bearish; MT Bearish
Key levels Comment
1539** Intraday resistance
1507** Intraday resistance
1485** Intraday pivot point
1470.99 Last
1448*** Intraday support
1418** Intraday support
1404** Intraday support
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