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Gold Analysis

Gold spot Intraday: bullish bias above 1202.5.

Pivot: 1202.5

Most Likely Scenario: Long positions above 1202.5 with targets @ 1224 & 1229.5 in extension.

Alternative scenario: Below 1202.5 look for further downside with 1194.5 & 1178.5 as targets.

Comment: A support base at 1202.5 has formed and has allowed for a temporary stabilisation.

 

gold pivot

Source :fxpro

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