Market Analysis of Gold on Thursday 25 May 2023

2023-05-25 10:28Source:BtcDana

Gold Intraday: key resistance at 1970.00.

 

Pivot:

1970.00

 

Our preference:

Short positions below 1970.00 with targets at 1954.00 & 1944.00 in extension.

 

Alternative scenario:

Above 1970.00 look for further upside with 1977.00 & 1985.00 as targets.

 

Comment:

As long as the resistance at 1970.00 is not surpassed, the risk of the break below 1954.00 remains high.

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