Gold Futures (GC1!) H1 | Falling to Multi-swing-low Support
Type:
Bullish Bounce
Key Levels:
Resistance: 2,770.90
Pivot: 2,728.50
Support: 2,711.30
Preferred Case:
Looking at the H1 chart, the price is falling towards a multi-swing-low support where it could stabilize before making a bullish bounce towards the 1st Resistance at 2,770.90.
Alternative Scenario:
Price may break below the Pivot at 2,728.50 and fall towards the 1st Support at 2,711.30.
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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.