Gold Futures (GC1!) H1 | Potential Bullish Bounce

Type:

Bullish Bounce

Key Levels:

Resistance: 2,669.70

Pivot: 2,641.00

Support: 2,627.20

Preferred Case:

Looking at the H1 chart, my overall bias for gold futures (GC1!) is bullish due to the strong upward momentum and the presence of a bullish Ichimoku Cloud. The price could pull back towards the Pivot and make a bullish bounce to rise towards the 1st Resistance at 2,669.70.

Alternative Scenario:

Price may break below the Pivot at 2,641.00 and fall towards the 1st Support at 2,627.20.