Gold Futures , H4 | Potential For Further Bullish Continuation!


Type: Bullish BounceKey Levels:Resistance: 1975.4Pivot: 1952.8Support: 1943.0Preferred Case:Prices are on bullish continuation. We see the potential for further bullish continuation from our Pivot at 1952.8 in line graphical overlap and 38.2% Fibonacci retracement towards our 1st resistance at 1975.4 in line with 61.8% Fibonacci Projection . Prices trading above our Ichimoku cloud support.Alternative Scenario:If prices were to reverse, they can potentially reach our 1st support at 1943 in line with 50% Fibonacci retracement .Fundamentals:With continuation of Russo-Ukraine invasions and inflation, we might expect a bullish turn towards the precious metal.

Source: Tickmill

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