Type: Bearish DropKey Levels:Resistance: 1966.2Pivot: 1951.1Support: 1918.6Preferred Case:Prices are abiding to an ascending trendline. We see the potential for a dip from our Pivot at 1951.1 in line graphical swing high towards our 1st support at 1918.6 in line with 78.6% Fibonacci Retracement. Our bearish bias is further supported by Ichimoku clouds forecasting the bearish move.Alternative Scenario:If prices were to climb, they can potentially reach our 1st resistance at 1966.2 in line with 100% Fibonacci projection.Fundamentals:With inflation still being an issue in the west and stalemate circumstances in the Russo-Ukraine crisis, we might still expect bullish upside on the commodity.
from Tickmill Expert Blog - Forex Traders Blog https://www.tickmill.com/blog/gold-futures-cg-h4-potential-for-drop"
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