Downside Prevails
Our Pivot: 1778
Our Preference: Start short selling XAUUSD below 1769.50 with strict stop loss of 1778 and profit target at 1751 with extension towards 1742.
Alternate Scenario: Upward penetration of 1778 will call for 1785 and 1791.
NOTE: XAUUSD is expansion mode of its previous bearish correction.
Chart with supports & resistances:
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