Downside Prevails
Our Pivot: 1726
Our Preference: Short sell Gold below 1718.50 with strict stop loss of 1726 and profit target at 1700 with extension towards 1692.
Alternate Scenario: Upward penetration of 1726 will call for 1745 and 1754.
NOTE: Gold is being capped by resistant trend line of its descending wedge.
Chart with supports & resistances:
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