Turning Down
Our Pivot: 1858
Our Preference: Start short selling XAUUSD below 1849.50 with strict stop loss of 1858.00 and profit target at 1839.00 and 1832 with extension towards 1822.
Alternate Scenario: Upward penetration of 1858.00 will call for 1861 and 1867.
NOTE: XAUUSD is being capped by a strong resistant trend line along with a horizontal resistant region.
Chart with supports & resistances:
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