Gold may fall to 2411.00 - 2423.00

Pivot

2456.00

Our preference

Short positions below 2456.00 with targets at 2423.00 & 2411.00 in extension.

Alternative scenario

Above 2456.00 look for further upside with 2474.00 & 2490.00 as targets.

Comment

Even though a continuation of the technical rebound cannot be ruled out, its extent should be limited.

Supports and resistances

2490.00

2474.00

2456.00

2444.00 Last

2423.00

2411.00

2383.00

Number of asterisks represents the strength of support and resistance levels.