Gold: Blueprints 3.
Updated
Gold is still in a bearish market, as the bounce of last week turned out to be a technical bounce, as Gold was unable to breakout 1083.75 level.
A breakout of 1075.76 will send Gold south back to 1062.95, with 1069.93 as a primary objective, with 1081.68 as a resistance.
Failing to do so will send it back to re-visit 1083.75.
The daily Pivot Point 1080.66. The daily support levels are around 1073.36 and 1068.47. The daily resistance levels are around 1085.55 and 1092.85.
A breakout of 1075.76 will send Gold south back to 1062.95, with 1069.93 as a primary objective, with 1081.68 as a resistance.
Failing to do so will send it back to re-visit 1083.75.
The daily Pivot Point 1080.66. The daily support levels are around 1073.36 and 1068.47. The daily resistance levels are around 1085.55 and 1092.85.
Note
Breaking out 1083.75, will send it seeking 1093.11, with 1089.95 as a primary objective. By doing so there will be a double bottom on XAUUSD, with 1103.82, as an objective, with 1062.95 as a support level, and 1067.8 as a rejection level.The daily Pivot Point is around 1073.44. The daily support levels 1061.89 and 1053.85. The daily resistance levels around 1081.48 and 1093.03.
Note
Gold faltered again, failing to continue its bullish movement. It has closed in the red, yesterday. It seems it is heading to visit 1062.95, which breaking out will send it south towards 1049.88. Failing to breakout 1067.91 will send it around 1083.75, which breaking out will send it towards 1093.11, with 1089.95 as a primary objective.
The daily Pivot Point 1073.19. The daily support levels are around 1065.69 and 1060.4. The daily resistance levels are around 1078.48 and 1085.98.
Related publications
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.