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Gold Intraday: consolidation in place
May 8, 2026 5:03 AM
short positions below 4730 with targets at 4680 & 4660 in extension.
Pivot: 4730
Our preference:
short positions below 4730 with targets at 4680 & 4660 in extension.
Alternative scenario:
above 4730 look for further upside with 4765 & 4800 as targets.
Comment:
the upward potential is likely to be limited by the resistance at 4730.
Supports and resistances:
4800
4765
4730
4710 Last
4680
4660
4625
Our preference:
short positions below 4730 with targets at 4680 & 4660 in extension.
Alternative scenario:
above 4730 look for further upside with 4765 & 4800 as targets.
Comment:
the upward potential is likely to be limited by the resistance at 4730.
Supports and resistances:
4800
4765
4730
4710 Last
4680
4660
4625
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