Our Preference: SHORT positions below 1131 with 1117 & 1106 in sight.
Alternative scenario: The upside penetration of 1131 will call for 1140 & 1150.
| GOLD (Spot) intraday: key ST resistance at 1131 |
Comment: the downside breakout of a bullish channel is a negative signal.
Trend: ST Ltd downside; MT Bullish
Key levels Comment
1150** Horizontal resistance
1140*** Horizontal resistance
1131** Intraday pivot point
1122 Last
1117*** Fib retracement (50%)
1106** Intraday support
1094** Horizontal resistance
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