Gold Short Term: consolidation in place
May 19, 2025 12:42 AM
short positions below 3370.00 with targets at 3065.00 & 2950.00 in extension.
Pivot: 3370.00
Our preference:
short positions below 3370.00 with targets at 3065.00 & 2950.00 in extension.
Alternative scenario:
above 3370.00 look for further upside with 3500.00 & 3600.00 as targets.
Comment:
as long as 3370.00 is resistance, look for choppy price action with a bearish bias.
Supports and resistances:
3600.00 **
3500.00 ***
3370.00 ***
3245.00 Last
3065.00 ***
2950.00 ***
2830.00 ***
Our preference:
short positions below 3370.00 with targets at 3065.00 & 2950.00 in extension.
Alternative scenario:
above 3370.00 look for further upside with 3500.00 & 3600.00 as targets.
Comment:
as long as 3370.00 is resistance, look for choppy price action with a bearish bias.
Supports and resistances:
3600.00 **
3500.00 ***
3370.00 ***
3245.00 Last
3065.00 ***
2950.00 ***
2830.00 ***
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