Gold spot Intraday: the downside prevails. Pivot: 1172 Our preference: Short positions below

Gold spot Intraday: the downside prevails.

Pivot: 1172

Our preference: Short positions below 1172 with targets @ 1161 & 1156 in extension.

Alternative scenario: Above 1172 look for further upside with 1181 & 1184.5 as targets.

Comment: As long as 1172 is resistance, likely decline to 1161.

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