Type : Bullish Rise
Resistance : 62842
Pivot: 61613
Support : 60555
Preferred Case: On the H1, price is bouncing off the ichimoku support which supports our bullish bias that price will rise from the pivot at 61613 where the overlap support and 61.8% fibonacci retracement are to the 1st resistance at 62842 in line with the 61.8% fibonacci projection and swing high resistance.
Alternative scenario: Alternatively, price may break pivot structure and drop to the 1st support at 60555 in line with the swing low support, 100% fibonacci projection , 161.8% fibonacci extension and 50% fibonacci retracement .
Fundamentals: Due to increasing inflation rates in the US,UK and other developed economies, we have a bullish view on the precious metal.
Resistance : 62842
Pivot: 61613
Support : 60555
Preferred Case: On the H1, price is bouncing off the ichimoku support which supports our bullish bias that price will rise from the pivot at 61613 where the overlap support and 61.8% fibonacci retracement are to the 1st resistance at 62842 in line with the 61.8% fibonacci projection and swing high resistance.
Alternative scenario: Alternatively, price may break pivot structure and drop to the 1st support at 60555 in line with the swing low support, 100% fibonacci projection , 161.8% fibonacci extension and 50% fibonacci retracement .
Fundamentals: Due to increasing inflation rates in the US,UK and other developed economies, we have a bullish view on the precious metal.
This analysis is provided as general market commentary and does not constitute investment advice. Past performance is not indicative of future results
Penafian
Maklumat dan penerbitan adalah tidak dimaksudkan untuk menjadi, dan tidak membentuk, nasihat untuk kewangan, pelaburan, perdagangan dan jenis-jenis lain atau cadangan yang dibekalkan atau disahkan oleh TradingView. Baca dengan lebih lanjut di Terma Penggunaan.
Penafian
Maklumat dan penerbitan adalah tidak dimaksudkan untuk menjadi, dan tidak membentuk, nasihat untuk kewangan, pelaburan, perdagangan dan jenis-jenis lain atau cadangan yang dibekalkan atau disahkan oleh TradingView. Baca dengan lebih lanjut di Terma Penggunaan.