Thursday, October 18, 2012

GOLD‏ (Spot) intraday: the downside prevails.


Pivot: 1753,00.
Our preference: SHORT positions below 1753 with 1742.5 & 1738 as next targets.
Alternative scenario: The upside breakout of 1753 will open the way to 1757 & 1766.
Comment: as long as 1753 is resistance, look for choppy price action with a bearish bias.



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