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Gold intraday: target 1916.50

2023-09-25
1217

1929.00 is our pivot point.

Our preference: target 1916.50.

Alternative scenario: the upside breakout of 1929, would call for 1933.50 and 1936.50.

Comment: the RSI is below 50. The MACD is below its signal line and positive. The MACD must penetrate its zero line to expect further downside. Gold is trading under its 20 period moving average (1926.10) but above its 50 period moving average (1924.40).

Supports and resistances:

1936.50 **

1933.50 *

1929.00 **

1927.00

1925.12 last

1919.50

1916.50 **

The above information is provided by special analysts and is for reference only. CM Trade does not guarantee the accuracy, timeliness and completeness of the information content, so you should not place too much reliance on the information provided. CM Trade is not a company that provides financial advice, and only provides services of the nature of execution of orders. Readers are advised to seek relevant investment advice on their own. Please see our full disclaimer.

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