Under Pressure
Our Pivot: 1239.60
Our Preferences: Short Sell Gold below 1236.60 with strict stop loss of 1239.60 and profit target at 1230.30 and 1228.
Alternate Scenario: Upward penetration of 1239.60 will call for 1241 and 1245.
NOTE: Gold is moving in an upward Elliot wave and right now its coming back after getting resistance from resistant trend line of its bullish trend channel for a correction.
Chart with Supports and Resistances:
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