Gold Short Term: bullish bias above 2600.00
Nov 11, 2024 2:58 AM
long positions above 2600.00 with targets at 2790.00 & 2870.00 in extension.
Pivot: 2600.00
Our preference:
long positions above 2600.00 with targets at 2790.00 & 2870.00 in extension.
Alternative scenario:
below 2600.00 look for further downside with 2525.00 & 2450.00 as targets.
Comment:
a support base at 2600.00 has formed and has allowed for a temporary stabilisation.
Supports and resistances:
2940.00 **
2870.00 ***
2790.00 ***
2671.00 Last
2600.00 ***
2525.00 ***
2450.00 ***
Our preference:
long positions above 2600.00 with targets at 2790.00 & 2870.00 in extension.
Alternative scenario:
below 2600.00 look for further downside with 2525.00 & 2450.00 as targets.
Comment:
a support base at 2600.00 has formed and has allowed for a temporary stabilisation.
Supports and resistances:
2940.00 **
2870.00 ***
2790.00 ***
2671.00 Last
2600.00 ***
2525.00 ***
2450.00 ***
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