Wednesday, October 31, 2012

GOLD‏ (Spot) intraday: the downside prevails.


Pivot: 1718.00
Our preference: SHORT positions below 1718 with targets @ 1706 & 1698.
Alternative scenario: The upside penetration of 1718 will call for a rebound towards 1730 & 1735.
Comment: as long as 1718 is resistance, look for choppy price action with a bearish bias.


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