Turning Down
Our Pivot: 1854
Our Preference: Start short selling Gold below 1848.50 with strict stop loss of 1854.00 and profit target at 1838.80 with extension towards 1834.
Alternate Scenario: Upward penetration of 1854.00 will call for 1861 and 1867.
NOTE: GOLD is being capped by correction level of its previous bearish rally and a resistant trend line inside its bullish price channel therefore an intraday dip is expected.
Chart with supports & resistances:
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