Downside Prevails
Our Pivot: 1874
Our Preference: Start short selling below 1868 and average it out till 1870 with strict stop loss of 1874.50 and profit target at 1861 with extension towards 1855.
Alternate Scenario: Upward penetration of 1874 will call for 1878 and 1882.
NOTE: Gold have given breakout of its ascending wedge in downward direction.
Chart with supports & resistances:
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