Gold Futures (GC1!) H41 | Falling towards Swing-low Support
Type:
Bullish Reversal
Key Levels:
Resistance: 2,916.60
Pivot: 2,841.20
Support: 2,785.70
Preferred Case:
Looking at the H4 chart, the price is falling towards a swing-low support and could stabilize around this level before reversing to bounce higher toward the 1st resistance at 2,916.60.
Alternative Scenario:
Price may break below the Pivot at 2,841.20 and fall toward the 1st Support at 2,785.70.
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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.