Gold Analysis
Pivot: 1287.50
Our preference: long positions above 1287.50 with targets at 1297.00 & 1300.00 in extension.
Alternative scenario: below 1287.50 look for further downside with 1283.50 & 1277.50 as targets.
Comment: a support base at 1287.50 has formed and has allowed for a temporary stabilisation.
Supports and resistances:
1305.00
1300.00
1297.00
1292.20 Last
1287.50
1283.50
1277.50
Our preference: long positions above 1287.50 with targets at 1297.00 & 1300.00 in extension.
Alternative scenario: below 1287.50 look for further downside with 1283.50 & 1277.50 as targets.
Comment: a support base at 1287.50 has formed and has allowed for a temporary stabilisation.
Supports and resistances:
1305.00
1300.00
1297.00
1292.20 Last
1287.50
1283.50
1277.50
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