Gold Intraday Analysis (READ DESCRIPTION)
Gold Intraday Analysis: Upside Momentum Prevails
Pivot Point:
2565.00
Primary Strategy (My Preference):
Consider initiating long positions above the key pivot of 2565.00. Upside targets include 2600.00 as the initial level, followed by an extended move towards 2615.00.
Alternative Strategy:
In the event the price drops below 2565.00, anticipate further downside pressure with targets set at 2554.00 and 2544.00.
Technical Outlook:
The RSI suggests further upward movement, supporting the potential for continued bullish momentum. Traders should monitor the 2565.00 level for key support.
Pivot Point:
2565.00
Primary Strategy (My Preference):
Consider initiating long positions above the key pivot of 2565.00. Upside targets include 2600.00 as the initial level, followed by an extended move towards 2615.00.
Alternative Strategy:
In the event the price drops below 2565.00, anticipate further downside pressure with targets set at 2554.00 and 2544.00.
Technical Outlook:
The RSI suggests further upward movement, supporting the potential for continued bullish momentum. Traders should monitor the 2565.00 level for key support.
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