Gold Futures (GC1!) H1 | Potential Bullish Bounce
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.