Caution
Our Pivot: 1849.10
Our Preference: Start Buying Gold above 1855.80 with strict stop loss of 1849.10 and profit target at 1862.50 with extension towards 1865.70.
Alternate Scenario: Downward penetration of 1849.10 will call for 1842 and 1839.
NOTE: GOLD is caged inside an ascending wedge on hourly chart which is a bearish continuity pattern but an intraday pull back is insight there buying with strict stop loss is beneficial but breakout below 1849.00 will push GOLD into a bearish zone which may prolong towards 1837 and 1828.
Chart with supports & resistances:
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