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.
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Clause de non-responsabilité
Les informations et publications ne sont pas destinées à être, et ne constituent pas, des conseils ou recommandations financiers, d'investissement, de trading ou autres fournis ou approuvés par TradingView. Pour en savoir plus, consultez les Conditions d'utilisation.