Gold Futures (GC1!) | H4 Potential Bullish Bounce
Type:
Bearish Bounce
Key Levels:
Resistance: 2,423.90
Pivot: 2,364.80
Support: 2,328.20
Preferred Case:
Looking at the H4 chart, my overall bias for Gold futures (GC1!) is neutral and the price could stabilize around the pivot to stage a rebound toward the 1st Resistance at 2.423.90.
Alternative Scenario:
Price may break below the pivot at 2,364.80 and fall towards the 1st Support level at 2,328.20
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Desmond Leong runs an award-winning research firm (The Technical Analyst finalists 2018/19/20 for Best FX and Equity Research) advising banks, brokers and hedge funds. Backed by a team of CFA, CMT, CFTe accredited traders, he takes on the market daily using a combination of technical and fundamental analysis.