Gold may rise to 2527.00 - 2540.00

Pivot

2478.00

Our preference

Long positions above 2478.00 with targets at 2527.00 & 2540.00 in extension.

Alternative scenario

Below 2478.00 look for further downside with 2460.00 & 2450.00 as targets.

Comment

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

Supports and resistances

2550.00

2540.00

2527.00

2500.49 Last

2478.00

2460.00

2450.00

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