Our pivot point is at 4,090.
Our preference : The downside prevails as long as 4,090 is resistance, with 4,023 and 4,005 as targets
Alternative scenario : above 4,090, look for 4,119 and 4,137.
Comment : the RSI is below its neutrality area at 50. The MACD is below its signal line and negative. The configuration is negative. The price stands below its 20 and 50 period moving average (respectively at 4,076 and 4,085). The Gold is trading below its lower Bollinger band (standing at 4,063).
Supports and resistances :
4,137 **
4,119 *
4,090 **
4,078
4,058 last
4,023
4,005 **
3,987 *
3,970 **
Make sure to follow us for daily market analysis and trading tips. Let’s turn knowledge into profit together! 💰💹