Type: Bullish BounceKey Levels:Resistance: 25.010Pivot: 24.680Support: 24.565Preferred Case:Prices are approaching a pivot. We see the potential for a bounce from our Pivot at 24.680 in line with 78.6% Fibonacci Projection towards our 1st resistance at 25.010 in line with 61.8% Fibonacci Projection . Our bullish bias is further supported by RSI being on bullish momentum.Alternative Scenario:If prices were to reverse, they can potentially reach our 1st support at 24.565 in line with 61.8% Fibonacci Projection.Fundamentals:With gradual settlement of war-negotiations, we might expect a slight bearish turn towards the precious metal. As FA and TA are in conflict, we would advise investors to be prudent in trading the precious metal.
Source: Tickmill