Gold Futures (GC1!) D1 | Falling to Pullback Support
Type:
Bullish Bounce
Key Levels:
Resistance: 2,851.90
Pivot: 2,778.90
Support: 2,735.00
Preferred Case:
Looking at the D1 chart, the price is falling toward a pullback support where it could stabilize before making a bullish bounce to rise towards the 1st Resistance at 2,851.90.
Alternative Scenario:
Price may break below the Pivot at 2,778.90 and fall towards the 1st Support at 2,735.00.
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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.