Gold may rise to 4980 - 5040.

Gold may rise to 4980 - 5040.

Pivot 4885
Our preference : Long positions above 4885 with targets at 4980 & 5040 in extension.

Alternative scenario Below 4885 look for further downside with 4838 & 4800 as targets.

Comment : The break above 4885 is a positive signal that has opened a path to 4980.