GOLD (Spot) intraday: key ST resistance at 1603
Pivot: 1603.00
Our Preference: SHORT positions below 1603 with 1582 & 1575 in sight.
Alternative scenario: The upside penetration of 1603 will call for 1613.5 & 1617.
Comment: the RSI is capped by a bearish trend line.
Trend: ST Consolidation; MT Bullish
Key levels Comment
1617** Intraday resistance
1613.5** Intraday resistance
1603** Intraday pivot point
1593 Last
1582* Intraday support
1575** Intraday support
1564*** Key MT support
Pivot: 1603.00
Our Preference: SHORT positions below 1603 with 1582 & 1575 in sight.
Alternative scenario: The upside penetration of 1603 will call for 1613.5 & 1617.
Comment: the RSI is capped by a bearish trend line.
Trend: ST Consolidation; MT Bullish
Key levels Comment
1617** Intraday resistance
1613.5** Intraday resistance
1603** Intraday pivot point
1593 Last
1582* Intraday support
1575** Intraday support
1564*** Key MT support
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