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Friday, 3 August 2012

2012.08.02 18:27:03 GOLD (Spot) intraday: key ST resistance at 1600

GOLD (Spot) intraday: key ST resistance at 1600

Update on supports and resistances.
Pivot: 1600.00

Our Preference: SHORT positions below 1600 with targets @ 1585 & 1579.

Alternative scenario: The upside breakout of 1600 will open the way to
1607 & 1611.

Comment: the RSI is bearish and calls for further downside.

Trend: ST Range; MT Range

Key levels Comment

1611** Intraday resistance
1607** Intraday resistance
1600** Intraday pivot point
1589 Last
1585** Intraday support
1579** Intraday support
1570** Intraday support


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