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 ***
Disclaimer: References, analysis and trading strategies are provided by the third-party provider, Trading Central, and the point of view is based on the independent assessment and judgment of the analyst, without considering the investment objectives and financial situation of the investors. All strategic opinions do not constitute investment advice or recommendations and are for references only. Our company also does not guarantee the accuracy of the strategic views and does not take any responsibility for the negative results caused by the trading strategies.
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