Gold Futures (GC1!) H4 I Falling toward an Overlap Support
Type:
Bullish Bounce
Key Levels:
Resistance: 3,430.50
Pivot: 3,166.30
Support: 2,973.60
Preferred Case:
Looking at the H4 chart, the price could fall toward the Pivot and potentially stabilize around this level before rising toward the 1st Resistance at 3,430.50.
Alternative Scenario:
Price may break below the Pivot at 3,166.30 and fall toward the 1st Support at 2,973.60.
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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.