Gold Short Term: caution
Jan 20, 2025 1:49 AM
short positions below 2720.00 with targets at 2585.00 & 2540.00 in extension.
Pivot: 2720.00
Our preference:
short positions below 2720.00 with targets at 2585.00 & 2540.00 in extension.
Alternative scenario:
above 2720.00 look for further upside with 2790.00 & 2870.00 as targets.
Comment:
as long as 2720.00 is resistance, look for choppy price action with a bearish bias.
Supports and resistances:
2870.00 **
2790.00 ***
2720.00 ***
2693.26 Last
2585.00 ***
2540.00 ***
2450.00 ***
Our preference:
short positions below 2720.00 with targets at 2585.00 & 2540.00 in extension.
Alternative scenario:
above 2720.00 look for further upside with 2790.00 & 2870.00 as targets.
Comment:
as long as 2720.00 is resistance, look for choppy price action with a bearish bias.
Supports and resistances:
2870.00 **
2790.00 ***
2720.00 ***
2693.26 Last
2585.00 ***
2540.00 ***
2450.00 ***
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