Downside Prevails
Our Pivot: 1838.30
Our Preference: Start Short selling XAUUSD below 1829.50 with strict stop loss of 1838.30 and profit target at 1814.80 with extension towards 1810.
Alternate Scenario: Upward penetration of 1838.30 will call for 1842 and 1847.
NOTE: XAUUSD is being capped by strong horizontal resistant region.
Chart with supports & resistances:
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