Gold may rise to 2480.00 - 2530.00

ST: choppy.

Pivot

2350.00

Our preference

Long positions above 2350.00 with targets at 2480.00 & 2530.00 in extension.

Alternative scenario

Below 2350.00 look for further downside with 2280.00 & 2230.00 as targets.

Comment

The RSI lacks momentum.

Supports and resistances

2625.00 **

2530.00 ***

2480.00 ***

2427.31 Last

2350.00 ***

2280.00 ***

2230.00 ***

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

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