Turning Down
Our Pivot: 1847
Our Preference: Start short selling XAUUSD below 1843.00 with strict stop loss of 1847.00 and profit target at 1833.00 with extension towards 1829.
Alternate Scenario: Upward penetration of 1847.00 will call for 1854 and 1861.
NOTE: XAUUSD is being capped by a strong resistant trend line along with 50% correction level of its previous bearish rally.
Chart with supports & resistances:
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