Downside Prevails
Our Pivot: 1765.00
Our Preference: Start short selling Gold below 1758.50 with strict stop loss of 1765.00 and profit target at 1750.00 with extension towards 1745.
Alternate Scenario: Upward penetration of 1765.00 will call for 1772 and 1778.
NOTE: GOLD is being caged inside a bearish wedge and being capped by a strong horizontal resistant region.
Chart with supports & resistances:
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