Type: Bullish bounce
Resistance : 1949.2
Pivot: 1916.8
Support : 1904.5
Preferred case: Prices are consolidating in a triangle pattern . We see the potential for further bullish continuation from our Pivot at 1916.8 in line graphical overlap and 61.8% Fibonacci retracement towards our 1st resistance at 1959.0 in line with 100% Fibonacci Projection . Our bullish bias is further supported by RSI being at levels where bounces previously occurred.
Alternative scenario: If prices were to reverse, they can potentially reach our 1st support at 1904.5 in line with 78.6% Fibonacci projection .
Fundamentals: With continuation of Russo-Ukraine invasions and inflation , we might expect a slight bullish turn towards the precious metal.
Resistance : 1949.2
Pivot: 1916.8
Support : 1904.5
Preferred case: Prices are consolidating in a triangle pattern . We see the potential for further bullish continuation from our Pivot at 1916.8 in line graphical overlap and 61.8% Fibonacci retracement towards our 1st resistance at 1959.0 in line with 100% Fibonacci Projection . Our bullish bias is further supported by RSI being at levels where bounces previously occurred.
Alternative scenario: If prices were to reverse, they can potentially reach our 1st support at 1904.5 in line with 78.6% Fibonacci projection .
Fundamentals: With continuation of Russo-Ukraine invasions and inflation , we might expect a slight bullish turn towards the precious metal.
This analysis is provided as general market commentary and does not constitute investment advice. Past performance is not indicative of future results
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Haftungsausschluss
Die Informationen und Veröffentlichungen sind nicht als Finanz-, Anlage-, Handels- oder andere Arten von Ratschlägen oder Empfehlungen gedacht, die von TradingView bereitgestellt oder gebilligt werden, und stellen diese nicht dar. Lesen Sie mehr in den Nutzungsbedingungen.