Gold Short Term: the upside prevails
Sep 9, 2024 1:56 AM
long positions above 2380.00 with targets at 2625.00 & 2700.00 in extension.
Pivot: 2380.00
Our preference:
long positions above 2380.00 with targets at 2625.00 & 2700.00 in extension.
Alternative scenario:
below 2380.00 look for further downside with 2290.00 & 2220.00 as targets.
Comment:
even though a continuation of the consolidation cannot be ruled out, its extent should be limited.
Supports and resistances:
2750.00 **
2700.00 ***
2625.00 ***
2497.59 Last
2380.00 ***
2290.00 ***
2220.00 ***
Our preference:
long positions above 2380.00 with targets at 2625.00 & 2700.00 in extension.
Alternative scenario:
below 2380.00 look for further downside with 2290.00 & 2220.00 as targets.
Comment:
even though a continuation of the consolidation cannot be ruled out, its extent should be limited.
Supports and resistances:
2750.00 **
2700.00 ***
2625.00 ***
2497.59 Last
2380.00 ***
2290.00 ***
2220.00 ***
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