Gold Intraday: capped by a negative trend line.
Pivot:
1712.00
Our preference:
Short positions below 1712.00 with targets at 1694.00 & 1688.00 in extension.
Alternative scenario:
Above 1712.00 look for further upside with 1720.00 & 1726.00 as targets.
Comment:
As long as the resistance at 1712.00 is not surpassed, the risk of the break below 1694.00 remains high.
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