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Gold Intraday: intraday support around 4705
May 12, 2026 4:58 AM
long positions above 4705 with targets at 4770 & 4795 in extension.
Pivot: 4705
Our preference:
long positions above 4705 with targets at 4770 & 4795 in extension.
Alternative scenario:
below 4705 look for further downside with 4680 & 4650 as targets.
Comment:
even though a continuation of the consolidation cannot be ruled out, its extent should be limited.
Supports and resistances:
4830 **
4795 **
4770 **
4720 Last
4705 ***
4680 **
4650 ***
Our preference:
long positions above 4705 with targets at 4770 & 4795 in extension.
Alternative scenario:
below 4705 look for further downside with 4680 & 4650 as targets.
Comment:
even though a continuation of the consolidation cannot be ruled out, its extent should be limited.
Supports and resistances:
4830 **
4795 **
4770 **
4720 Last
4705 ***
4680 **
4650 ***
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