Turning Down
Our Pivot: 1854.50
Our Preference: Start short selling Gold below 1849.30 with strict stop loss of 1854.50 and profit target at 1842.40 with extension towards 1837 and 1831.
Alternate Scenario: Upward penetration of 1854.50 will call for 1859 and 1863.
NOTE: Gold is being capped by a descending trend line and its trying to penetrate below supportive trend line of its bullish price channel.
Chart with supports & resistances:
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