Gold Intraday: bullish bias above 1703.00.
Pivot:
1703.00
Our preference:
Long positions above 1703.00 with targets at 1718.00 & 1723.00 in extension.
Alternative scenario:
Below 1703.00 look for further downside with 1695.00 & 1688.00 as targets.
Comment:
Even though a continuation of the consolidation cannot be ruled out, its extent should be limited.
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