Under Pressure
Our Pivot: 1942
Our Preference: Short sell Gold below 1937.60 with strict stop loss of 1942 and profit target at 1930 and 1927.
Alternate Scenario: Upward penetration of 1942 will call for 1949.
NOTE: Gold is moving downward after completing its 61.8% correction of intraday bearish rally and a bearish engulfing pattern have been formatted on 30 minutes chart.
Hourly chart with supports & resistances:
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