Gold Intraday: 4835 expected.
Gold (XAU/USD)
-8.29-0.18%
long positions above 4790 with targets at 4835 & 4855 in extension.
Pivot: 4790
Our preference: long positions above 4790 with targets at 4835 & 4855 in extension.
Alternative scenario: below 4790 look for further downside with 4767 & 4735 as targets.
Comment: even though a continuation of the consolidation cannot be ruled out, its extent should be limited.
Supports and resistances:
4880
4855
4835
4805 Last
4790
4767
4735
Our preference: long positions above 4790 with targets at 4835 & 4855 in extension.
Alternative scenario: below 4790 look for further downside with 4767 & 4735 as targets.
Comment: even though a continuation of the consolidation cannot be ruled out, its extent should be limited.
Supports and resistances:
4880
4855
4835
4805 Last
4790
4767
4735
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