Gold Futures (GC1!) H4 | Bullish Uptrend to Extend?

Type:

Bullish Bounce

Key Levels:

Resistance: 2,595.90

Pivot: 2,532.90

Support: 2,479.90

Preferred Case:

Looking at the H4 chart, my overall bias for Gold futures (GC1!) is bullish due to the presence of a bullish Ichimoku Cloud and the ascending trendline. The price could pull back toward the pivot and bounce off this level to rise toward the 1st Resistance at 2,595.90.

Alternative Scenario:

Price may break below the pivot at 2,532.90 and fall towards the 1st Support level at 2,479.90.