Gold Intraday: bullish bias above 1642.00.
Pivot:
1642.00
Our preference:
Long positions above 1642.00 with targets at 1666.00 & 1675.00 in extension.
Alternative scenario:
Below 1642.00 look for further downside with 1631.00 & 1621.00 as targets.
Comment:
Even though a continuation of the consolidation cannot be ruled out, its extent should be limited.
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