Gold Intraday: the downside prevails
May 16, 2024 4:07 PM
short positions below 2386.00 with targets at 2365.00 & 2354.00 in extension.
Pivot: 2386.00
Our preference: short positions below 2386.00 with targets at 2365.00 & 2354.00 in extension.
Alternative scenario: above 2386.00 look for further upside with 2395.00 & 2410.00 as targets.
Comment: the break below 2386.00 is a negative signal that has opened a path to 2365.00.
Supports and resistances:
2410.00
2395.00
2386.00
2380.17 Last
2365.00
2354.00
2344.00
Our preference: short positions below 2386.00 with targets at 2365.00 & 2354.00 in extension.
Alternative scenario: above 2386.00 look for further upside with 2395.00 & 2410.00 as targets.
Comment: the break below 2386.00 is a negative signal that has opened a path to 2365.00.
Supports and resistances:
2410.00
2395.00
2386.00
2380.17 Last
2365.00
2354.00
2344.00
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