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Gold Intraday: Expecting continued upward momentum.(DESCRIPTION)
Gold Intraday: Expecting continued upward momentum.
Pivot:
2501.00
Preferred strategy:
Initiate long positions above 2501.00, with short-term targets at 2529.00 and an extended target at 2540.00. This suggests a potential continuation of the bullish trend as long as the price remains above the pivot level.
Alternative:
If the price breaks below 2501.00, further downside could develop with targets at 2493.00 and 2485.00, indicating a possible shift in momentum towards the bearish side.
The RSI remains in bullish territory, reinforcing the likelihood of additional upward movement, suggesting that the current trend may persist.
Pivot:
2501.00
Preferred strategy:
Initiate long positions above 2501.00, with short-term targets at 2529.00 and an extended target at 2540.00. This suggests a potential continuation of the bullish trend as long as the price remains above the pivot level.
Alternative:
If the price breaks below 2501.00, further downside could develop with targets at 2493.00 and 2485.00, indicating a possible shift in momentum towards the bearish side.
The RSI remains in bullish territory, reinforcing the likelihood of additional upward movement, suggesting that the current trend may persist.
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