Gold FuturesLong
Gold Futures ( GC1!), H1 Potential for Bullish Bounce
Type: Bullish Bounce
Resistance: 1930.7
Pivot: 1908.3
Support: 1895.4
Preferred case: Price is moving nearer to the pivot level. We are expecting the price to potentially bounce off from our pivot level of 1908.3 in line with 78.6% Fibonacci projection and 78.6% Fibonacci retracement towards our 1st resistance level of 1930.7 which is in line with 23.6% Fibonacci retracement and 78.6% Fibonacci projection.
Alternative scenario: Otherwise, the price might break our pivot structure and trigger a dip to the 1st support level of 1895.4 in line with a horizontal swing low support.
Fundamentals: No major news.
Resistance: 1930.7
Pivot: 1908.3
Support: 1895.4
Preferred case: Price is moving nearer to the pivot level. We are expecting the price to potentially bounce off from our pivot level of 1908.3 in line with 78.6% Fibonacci projection and 78.6% Fibonacci retracement towards our 1st resistance level of 1930.7 which is in line with 23.6% Fibonacci retracement and 78.6% Fibonacci projection.
Alternative scenario: Otherwise, the price might break our pivot structure and trigger a dip to the 1st support level of 1895.4 in line with a horizontal swing low support.
Fundamentals: No major news.
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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.
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.