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Gold Futures ( GC1!), H1 Potential for Bullish Bounce

Started by forex4you, Apr 25, 2022, 03:01 pm

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Gold Futures ( GC1!), H1 Potential for Bullish Bounce



Gold Futures ( GC1!), H1 Potential for Bullish Bounce








Type: Bullish Bounce
Resistance: 1930.7
Pivot: 1908.3
Support: 1895.4
Preferred case: Price is moving nearer to the pivot level. We are expecting the price to potentially bounce off from our pivot level of 1908.3 in line with 78.6% Fibonacci projection and 78.6% Fibonacci retracement towards our 1st resistance level of 1930.7 which is in line with 23.6% Fibonacci retracement and 78.6% Fibonacci projection .


Alternative scenario: Otherwise, the price might break our pivot structure and trigger a dip to the 1st support level of 1895.4 in line with a horizontal swing low support.


Fundamentals: No major news.


Source: Gold Futures ( GC1!), H1 Potential for Bullish Bounce
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