Gold Intraday: the downside prevails
May 16, 2025 11:12 AM
short positions below 3211.00 with targets at 3138.00 & 3120.00 in extension.
Pivot: 3211.00
Our preference:
short positions below 3211.00 with targets at 3138.00 & 3120.00 in extension.
Alternative scenario:
above 3211.00 look for further upside with 3231.00 & 3243.00 as targets.
Comment:
the break below the support at 3211.00 triggered a bearish acceleration to the support at 3138.00.
Supports and resistances:
3243.00
3231.00
3211.00
3170.33 Last
3138.00
3120.00
3104.00
Our preference:
short positions below 3211.00 with targets at 3138.00 & 3120.00 in extension.
Alternative scenario:
above 3211.00 look for further upside with 3231.00 & 3243.00 as targets.
Comment:
the break below the support at 3211.00 triggered a bearish acceleration to the support at 3138.00.
Supports and resistances:
3243.00
3231.00
3211.00
3170.33 Last
3138.00
3120.00
3104.00
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