Title
XAUUSD H1 | Bullish Bounce off a Multi-swing-low Support?
Type
Bullish Bounce
Preference:
The price is falling toward the Pivot level at 3,339.40, a multi-swing-low support. A bounce off this level could lead the price toward the 1st Resistance at 3,380.83, a pullback resistance.
Alternative Scenario:
If the price breaks below the Pivot, it could fall toward the 1st Support at 3,325.50, a pullback support.
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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.