Gold Futures (GC1!) H4 | Falling to Overlap Support
Type:
Bullish Reversal
Key Levels:
Resistance: 2,676.80
Pivot: 2,636.70
Support: 2,619.00
Preferred Case:
Looking at the H4 chart, the price could fall towards an overlap support where it could potentially stabilize before reversing to bounce higher towards the 1st Resistance at 2,676.80.
Alternative Scenario:
Price may break below the Pivot at 2,636.70 and fall towards the 1st Support at 2,619.00.
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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.