Tuesday, December 4, 2012

GOLD‏ (Spot) intraday: the downside prevails.


Pivot: 1714.00
Our preference: SHORT positions below 1714 with 1695 & 1689 as next targets.
Alternative scenario: The upside penetration of 1714 will call for 1722 & 1731.
Comment: as long as 1714 is resistance, look for choppy price action with a bearish bias.


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