Downside Prevails
Our Pivot: 1745.65
Our Preference: Start short selling Gold below 1736.30 with strict stop loss of 1745.65 and profit target at 1722.70 with extension towards 1716.
Alternate Scenario: Upward penetration of 1745.65 will call for 1750 and 1753.
NOTE: GOLD is being capped by a descending trend line along with a horizontal resistant region.
Chart with supports & resistances:
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