Downside Prevails
Our Pivot: 1861.10
Our Preference: Start short selling Gold below 1856.00 with strict stop loss of 1861.10 and profit target at 1848.50 with extension towards 1844.50.
Alternate Scenario: Upward penetration of 1861.10 will call for 1865 and 1871.
NOTE: GOLD is retesting its previous supportive regions as resistant ones to continue bearish rally after correction.
Chart with supports & resistances:
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