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Gold Technical Analysis

Gold spot Intraday: rebound expected.

Pivot: 1178.3

Most Likely Scenario: Long positions above 1178.3 with targets @ 1194.5 & 1199 in extension.

Alternative scenario: Below 1178.3 look for further downside with 1168.5 & 1160 as targets.

Comment: A support base at 1178.3 has formed and has allowed for a temporary stabilisation.

Gold Chart

Source

gold price chart

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